Goldman Sachs

Thornburg Sells $21 Billion of Mortgage Assets at a Loss; Plans Return to ‘Business As Usual’ 

Thornburg Mortgage Inc. said this morning that it has sold off $21 billion in mortgage assets as part of a bid to raise cash and resume normal operations; the sale will generate a loss of $930 million, according to a press statement released this morning, although Thornburg had already reserved $700 million for such losses previously. From the press statement: