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Wall Street Ripple: Lehman Failure Hits East Bay

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And so it begins continues. Real estate developer SunCal was in the middle of demolishing old structures above East Oakland in preparation for the huge new Oak Knoll project -- in partnership with major investor (and major screw-ups) Lehman Brothers. Now that Lehman's gone down, the project is on hold indefinitely. You didn't really want those 960 housing units and 30,000 square feet of retail anyway, right Oaktown? [SF Gate]