Lehman's comments at conference upbeat

At the Merrill Lynch Banking and Financial Services Investor Conference on November 14, 2007, comments from Lehman's co-Chief Administration Officer on the firm's footing sounded upbeat. In the conference, co-CAO Ian Lowitt stated that Lehman had decreased its loan commitment by $17 billion since its 3Q earnings release, that the company did not own or sponsor any SIVs (which have been involved in the subprime fallout), and that it did not expect large write-downs on subprime holdings. In fact, Lehman may actually make money where competitors are losing by shorting CDOs and other risky investment.

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