Baltimore Sun (04/16/08)
Lehman Brothers Holdings Inc. CEO Richard Fuld believes the worst of the credit crunch is over. Speaking at the investment bank's annual shareholder meeting in Manhattan on April 15, the executive acknowledged that the environment is still "challenging" but stated that the credit markets have started to ease. Similar assessments were made earlier this month by Goldman Sachs Group Inc. CEO Lloyd Blankfein and Morgan Stanley CEO John Mack. Since 2007, steep losses tied to mortgage-backed securities have cost major banks and brokerage firms approximately $200 billion.
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