CalFed said it sold $350 million of...
From Times Staff and Wire Reports
CalFed said it sold $350 million of under-performing and non-performing rental property loans in California to New York-based Argo Partnership L.P. The sale is part of the $1 billion in bad loans the Los Angeles-based thrift has said it would sell to shore up its balance sheet. . . . American Express completed its $3.3-billion spinoff of Lehman Bros. Holdings Inc.
