Lehman fall puts assets up for grabs
The bankruptcy of Lehman Brothers has created an opportunity for commodity market rivals to snap up its assets.
Market sources indicate Lehman had attempted to ramp up its trading business during 2006/2007, but was a relatively small presence in the markets, with an average daily value-at-risk of $15 million, compared to largest players Goldman Sachs and Morgan Stanley with VaR of around $50
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