by Calculated Risk on 9/10/2008 07:53:00 AM

Here is the Lehman Press Release.

The conference call number is 800-369-1721 (domestic) or 517-308-9232 (international) at least ten minutes prior to the start of the conference call. The pass code for all callers is 7561430.

The conference call will also be accessible through the “Shareholders” section of the Firm’s Web site under the subcategory “Events and Presentations.” See here.

I'll post some remarks (plus see the comments).

Fuld: "significant deterioration" in 2nd quarter in credit markets.

Fuld: "final stages" of selling majority interest in IMD.

Fuld: "remain committed" to all alternatives.

Project 34% price drop on houses (stress case), compared to 18% decline in house prices so far (pretty quick, I think this is correct).

Reader Brian comments: "Alt-A is real mess. 18% DQ rate at this point, bound to get worse, is a horror show....Of course they are financing the REI spinoff, so there is no risk reduction unless REI can attract external funding"