The financial crisis is evolving so quickly that we thought it best to simply share some crisis-related wire headlines with you. Viewing them in aggregate gives a good sense of what is happening in the moment. These headlines are as of 8:58 a.m. ET:
[WB] Wachovia shares rise 41% in pre-open trade 8:48 AM ET
[WM] Washington Mutual shares rise 45% in pre-open trade 8:47 AM ET
[MS] Morgan Stanley shares rise 50% in pre-open trade 8:46 AM ET
[GS] Shares of Goldman Sachs rise 25% in early premarket 7:48 AM ET
[AIG] Shares of AIG rise 35% in early premarket 7:47 AM ET
Fed to buy federal agency discount notes to support market 8:38 AM ET
Fed acts to shore up money market mutual funds 8:38 AM ET
[LM] Legg Mason enters support measures with 3 money market funds 8:33 AM ET
[LM] Legg Mason amends 2 capital support agreements 8:33 AM ET
[LM] Legg Mason sees $318 mln noncash charge 8:33 AM ET
[SKF] Shares of ProShares UltraShort Financials down 19% preopen 7:58 AM ET
October crude up $2.36 to $100.24 a barrel on Globex 7:52 AM ET
The Reserve: No shares to be offered, redeemed in 23 funds 7:44 AM ET
The interest in leasing among BHPH lenders may be spurred by the law changes that have taken much of contingent liability risk off of the lessor, and because a leased vehicle is titled in the name of the leasing company there is no need to re-title the vehicle after repo: The vehicle can just be put quickly into the hands of new lessee. Turning around repoed vehicles quickly is part of doing business in this credit sector.
My guess is these BHPH leases are structured like operational leases (no residual value amount); just a nomimal buy-out cost at the end of the lease term.