RTG-16-2009-01-28

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The sad tale from a DLA Piper partner at IMN’s Sixth Annual Winter Forum On Real Estate Opportunity; Private Fund Investing.  His client bought some paper from Lehman Brothers with the expectation they would sell it back two weeks later.  Instead Lehman collapsed and they are stuck with a bunch of garbage.  The client ends up owning a bunch of cash consuming white elephants.