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Lehman Brothers (LEH) Pressured On Write-Down Concerns
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Shares of Lehman Brothers Holdings Inc. (NYSE: LEH) are fractionally lower today following a Wall Street Journal report suggesting the company is now looking at write downs in the $1.3 billion range, which is up from a recent estimate of $800 million to $1 billion and up from the $830 million Q4 write down.
The paper said Lehman is sitting on a lot of commercial real-estate loans, which is seeing deteriorating market conditions.
The paper said the hit to Lehman's balance sheet, which is small compared to write downs at Merrill Lynch (NYSE: MER) and Citigroup (NYSE: C), still demonstrates that firms that appeared to have side-stepped the major problems are still seeing difficulty in this market.
Link to WSJ Article $
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