Fairman

Is Lehman in the Midst of a Bear Stearns-like Meltdown?

From May to June this year, I noticed the numbers of foreclosure homes drastically increased about 30% at Riverside of California ( from 3496 to 4433) and Las Vegas of Nevada (from 16119 to 21149). Similar downtrend is also noticed in Southern California, Arizona, and Florida. Since LEH got a lot of involvements and outrageously high leverages on the house mortgages, as long as this housing market does not reach the bottom, LEH has more downdays to come. High commodities is throwing in more oils into this fire. I do not think LEH can survive this burn of credit crunch.