806085--1/29/2008--LEHMAN_BROTHERS_HOLDINGS_INC

related topics
{financial, litigation, operation}
{loss, insurance, financial}
{competitive, industry, competition}
{capital, credit, financial}
{loan, real, estate}
{debt, indebtedness, cash}
{condition, economic, financial}
{product, market, service}
{acquisition, growth, future}
{system, service, information}
{personnel, key, retain}
{regulation, change, law}
{tax, income, asset}
{stock, price, operating}
Our Client-Flow Revenues May Decline in Adverse Market Conditions. We May Incur Losses Due to Fluctuations in Market Rates, Prices and Volatility. Holding Large and Concentrated Positions May Expose Us to Losses. Market Risk May Increase the Other Risks That We Face. We May Incur Losses Associated with Our Credit Exposures . Defaults by Another Large Financial Institution Could Adversely Affect Financial Markets Generally. An Inability to Access the Debt Markets Could Impair Our Liquidity. Structured Instruments May Have Limited Liquidity We Are a Holding Company and Are Dependent on Our Subsidiaries for Funds. Risks Relating to Use of Estimates and Valuations Risks Relating to Off-Balance Sheet Entities Operational Risks May Disrupt Our Businesses, Result in Losses or Reputational Damage or Limit Our Growth. Acquisitions or Joint Ventures Could Present Unforeseen Integration Obstacles or Costs. Legal, Regulatory and Reputational Risk We Face Significant Litigation Risks in Our Businesses . Extensive Regulation of Our Businesses Limits Our Activities and May Subject Us to Significant Penalties. Our Mortgage Origination Business is Subject to Special Litigation and Regulatory Risks. Exposure to Reputational Risks Could Impact the Value of Our Brand. Potential Conflicts of Interest Are Increasing. We Face Increased Competition Due to a Trend Toward Consolidation. Our Revenues May Decline Due to Competition from Alternative Trading Systems. Our Ability to Retain Our Key Employees is Critical to the Success of Our Business. Risks Relating To New Business Initiatives and New Markets

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