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The list of hedge funds which bought Lehman paper after the bank's demise reads like a Who's Who of so-called "distressed debt" funds, and includes Baupost Group, Elliott Management, King Street Capital and Paulson & Co, industry sources said.
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Housing, moreover, props up at least 40 other sectors, fromcement to steel to furniture and home appliances. Localgovernments also depend heavily on revenues from land sales todevelopers to help service a debt pile worth trillions of yuan.
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The power station's new owners, SP Setia, SimeDarby and the Employees Provident Fund pension fund,want to sell 3,400 homes to help the development hit a value of8 billion pounds ($13 billion) in 15 years' time.
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In his address, Obama seized on comments from his Republican predecessor, George W. Bush, who this week threw his support behind the overhaul effort. Obama has often criticized Bush in the past but the two men are in agreement on this issue.
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Britney's back, and she's never looked better! The pop princess played up her curves in a bright blue string bikini as she and boyfriend David Lucado spent Memorial Day weekend together squeezing in some R&R at the luxury Terranea Resort in Rancho Palos Verdes, Calif. Spears and Lucado went public with their relationship around Valentine's Day.