In a sign that write-offs are still coming from unexpected quarters, Lehman (NYSE: LEH) has disclosed that it will liquidate three funds which have found themselves in deep trouble.
According to Reuters "The bank blamed the liquidation on "market disruptions that occurred in the second half of the 2007 fiscal year and further deterioration in the 2008 quarter."
In other words, we still have lots of problems.
Douglas A. McIntrye
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