An Investment Firm That Prospered From Past Crises Turns to Mortgages"The deal was classic Grayken: Lone Star, which has a long history of swooping down on troubled assets, paid 22 cents on the dollar for investments with a face value of nearly $31 billion. Mr. Grayken’s firm even got Merrill to finance 75 percent of the purchase price." Mr. Grayken cut his teeth running Brazos, an entity formed by the Resolution Trust Corporation and Mr. Bass to buy up and work out troubled mortgages from savings and loans. Brazos ultimately posted a 77 percent return on its portion of the portfolio. July 30 2008 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.