Sean T. Lynch of Wells Fargo spoke exclusively with The Deal at the Distressed Investing Conference 2008 on a number of subjects including the roiled credit markets; Fannie Mae and Freddie Mac and refinancings; the corporate bond markets; as well as debt sitting on the balance sheets of the big banks.
Market turmoil has driven prices down to where investors are "picking the bottom," according to Lynch.
When it comes to the banks, Lynch says that the amount of debt still on their balance sheets is impeding their ability to do future lending, and for companies that need rescue lending "it's not going to come from traditional lenders." - George White
