Goldman -Lehman asset sales may help credit market

NEW YORK (Reuters) - The market is already expecting massive sales of assets from bankrupt Lehman Brothers Holdings, so when the sales take place, prices may not move that much, said Goldman Sachs Group's chief financial officer, David Viniar.

Speaking on a call with analysts on Tuesday, Viniar said Lehman Brothers' attempts to sell its residential mortgage assets and other complex securities were well-known and had already driven prices lower in the market.

"That overhang was largely in the market," Viniar said. "After a couple of months, if (those) assets get sold, it might actually take some of that overhang out."

Lehman Brothers filed for Chapter 11 bankruptcy protection on Monday.

Analysts and investors have been concerned the sale of these assets at fire-sale prices, resulting from a liquidation at Lehman's and Bank of America's acquisition of Merrill Lynch & Co, could force other banks to mark their holdings at lower levels.

(Reporting by Elinor Comlay, editing by Gerald E. McCormick)