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BALANCE SHEETS AS OF SEPTEMBER 30, 2011 is out, docket 23709.
Merry Christmas to everyone.
Docket 21188 - June Balance Sheet out.
23454, 23455 and 23459 are claim numbers not dockets. Sorry for the mixup.
Nice withrawals today in docket. 4,27B reduction.
Docket 23454 1'558'311'759,63USD
Docket 23455 1'558'311'759,63USD
Docket 23459 1'155'966'517,41USD
Seems like all are U.S Bank Nat. Association's double or triple claims.
Kind of a "Pelican Brief" document.
Well done!
IMHO the gap could be the same - what if the 13B is part of the 65B debtor and mainstream media is so vigorously advertising as the only thing left. We are getting lot of "cash in news" lately. IMHO these sales are certainly part of the 65B. Waiting for the MORs to prove it.
Whish this deadlock was already over.
Good Luck!
Does anybody have a link or docket number to the terms between Lehman and A&M (if it's ever been published). I remember that A&M should get a significant bonus if unsecured debt gets recovery but how much? Maybe there are some other interesting details that could help understand the course of outcome.
Thanks.
The most spectacular part of the video is the "05 and 08" part. This was not a mistake of wording but a clear message to Paulson!
The perfect storm still to come.
On the other hand we all have to admit that thanx to Paulson/GS/FED or who ever made the decision not to bail out Lehman we have this opportunity to .... to get a piece of redistribution of Lehman assets, to buy Lehman papers and pay pennies, to invest few thousand kilos and get a return of few hundred kilos - get rich(er). Finally quit working, buy nice house, sportscar or yacht or smthing else. Live a good life. If and when all this comes together and we actually make some money out of this, then all this started/happened because of these guys decided to let Lehman to fail and created the opportunity. Isn't it wierd?
This is sick and stinking! Too bad Hank was a Goldman guy, I guess they would have hired him too.
http://dealbook.nytimes.com/2011/05/23/barclays-capital-hires-former-fed-official/
I believe the brackets = sell.
Linda, there was PIMCO's filing on 13-th. Take a look at the very end of the transaction history - in 08 they have managed to get rid of some of the subs at 100 cent on a dollar after Lehman filed chapter 11.
It's natural that most of the attention is focused on assets and how to maximize it. Considering the faboulos diet they are using to keep assets slim makes u wonder what kind on steroids they are using to pump up liabilites.
60B for distribution - my azz!
Hmmm, I'm not sure this document will have any impact on CT's or equity. Don't get me wrong, it has lots of interesting points but the introduction says it all:
"This paper examines how the
government COULD have structured a resolution of
Lehman under the orderly liquidation authority of Title
II of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act) and how
the outcome COULD have differed from the outcome
under bankruptcy."
5. Maybe eligible for NOL: 10B.
Is this just conservative estimation? I'm just curious because on the page 13 of latest BS is stated:
Furthermore, the Company filed its 2008 and 2009 consolidated
federal income tax returns with an approximately $47 billion and $5.6 billion NOL, respectively.
TOTAL 52,6 B
December 30 2010 balance sheet is out.
Docket 16321
March MOR is also out.
Docket 16322
I can't explain it too. Even if it's cancelled down below it's still unbelieveble - 2,7 trillion! Anybody else want to take a look at it and give your best shot? Sixfoot?
Talking about financial discrepancies. Take a look at this post on Yahoo LEHL board. It's a Valukas report!!! It says there are TRILLIONS of dollars of assets!!! Or am I misreading it???
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_L/threadview?m=tm&bn=54932&tid=43&mid=43&tof=1&frt=1
If Barclays is trying to buy Lehman out then:
1) Barclays estimates that buying Lehman estate before court decision is cheaper than the possible penalty from court.
2) Barclys guys prove that they are greatest idiots ever. They had the chance to buy entire Lehman empire with FED's money two years ago and they didn't do it. Back than it would have cost them a lot less than today + now they don't have the FED's support.
3) The Lehman guys have totally lost it. Buyout would mean opening books to buyer. Would you show your books to your biggest enemy with whom you are fighting in the court? I don't think so.
Judge Peck seems to take all the time he needs to make the Barclays decsion. Maybe today is our day - Friday with full moon and everything.
Go Lehman!
Argus, read also AIG chapter. Page # 348 is especially good one.
They (FEDs) were discussing lending money to AIG on SUNDAY 14-th SEPTEMBER 2008. Somesort of 13-3 lending tool. Same day they refused to lend Lehman using the same 13-3 lending tool.
I remebemer Bernanke saying that on Sunday they did not had legal authority to lend Lehman. After exploring different options on Monday 15-th they suddenly found a tool to save AIG. To quote the wisemen - this is the worst lie after "I did not have sex with that women".
Bernanke says in the article below that Lehman did not have enough collateral and thats why they could not lend to Lehman.
http://articles.sfgate.com/2010-09-03/business/23986848_1_bernanke-lehman-failure-financial-crisis-and-recession
In December we learned that Barcays got piles of money from FED to buy Lehman brokerage unit and the collateral of that deal was Lehman assets. That was just couple days later.
Implausible.
The Financial Crisis Inquiry Comissions report is availible thru this link: http://fcic.gov/report
Part IV, chapter 18 is about Lehman. Interesting reading.
Day after day the whole thing is turning against Paulson, Bernanke and other officials and regulators.
Folks, do not forget that updated POR/DS is still based on June 30, 2010 numbers.
It's like I'm standing infront of ventilator to get some air and someone on the other side keeps throwing turds in vent.
Probably this is why Marshal didn't gave the POR status presentation. That's why all the court transcripts and several other docs are not published also, though Ad Hoc guys most likely attend every hearing.
Balance sheet as of June 30 2010 is out.
Docket 14105
Balance sheet as of June 30 2010 is out.
Docket 14105
Any expectations about Marshals presentation tomorrow?
I belive Linda refered to a docket in the middle of December were was said that Marshal will give update on 13-th January hearing.
Valukas said in hes report that Lehmans methods of asset valuations were correct. He mentioned some other institutions that backed hes statement. I can't find the exact page number but it was there.
Wow, this is serious stuff. Someone bought a serious insurance policy or placed a bet that Barclays SP will fall thru the floor. That someone has to have deep pockets:
MAR 11 put/strike 17$ ca 40'000 contracts (1 contract = 100 shares) with aproximate price 1,8$. 40'000x100x1,8 = 7'200'000$
MAR 11 put/strike 18$ ca 42'000 contracts (1 contract = 100 shares) with aproximate price 2,4$. 42'000x100x2,4 = 10'080'000$
MAR 11 put/strike 19$ ca 40'000 contracts (1 contract = 100 shares) with aproximate price 3,1$. 40'000x100x3,1 = 12'400'000$
MAR 11 put/strike 20$ ca 34'000 contracts (1 contract = 100 shares) with aproximate price 3,9$. 34'000x100x3,9 = 13'260'000$
GRAND TOTAL 42'940'000$ position. If that position was bought to protect real stocks on options buyer account then the position must be at least (40'000+42'000+40'000+34'000)x100= 15'600'000 shares wich are worth today 15'600'000x16,50=257'400'000$. There are several institutions owning this kind or bigger position of BCS shares. So spending ca 43 million dollars to protect your position seems ... odd, but understandable.
If these options were bought not to protect real stock position but to profit from falling Barclays shareprice, then ... I better not go there ....... To my knowledge there is only one event that can affect BCS SP that dramatically between today and March 17-th 2011.
In both scenarios that buyer is seriuosly doubting Barclays 16,50$ SP holds.
What a lovely Monday :)
Guster, "Balance" and "Sheet" are the key words.
I'm with you guys, I have a good gut feeling also. Added some 37 000 CTs previous weeks. Maybe we will hear some good news as soon as Wednesday. State of the estate presentation should be on that day. Maybe we'll see updated A/L numbers prior that presentation or some development in claims statistics.
Good luck!
I disagree with you guys about the settlement. Of course I'm nobody to say that but if Judge Peck wanted this case to be settled he should have blown the horn and flashed the lights long ago. He hasn't done that. Instead he welcomed everybody to a long trial. Bear in mind that he does not have to decide immediately after the trial. Final decision may take several months.
In my opinion Judge Peck is basically obligated to reverse the deal. Just think about what kind of message it sends to the business world if he does not do that: anybody with enough deep pockets can go straight to the top managers of any firm (troubled or healthy), "agree" a price and secure warm spot for those same execs in the predators nest. It really does not matter that Lehman execs who sold the assets didn't actually receive a penny from Barclays. They were to benefit from the deal also. It's a fundamental, systematic, ethical ...... (you name it) a CONFLICT ON A VERY BASIC LEVEL.
Dnoto posted a great article. In the end of that article is nice quote:
“Especially in a large transaction, a judge would be reticent to overturn the sale order absent a clear showing of fraud or other impermissible action,” he said.
I bet only Barclays guys hallucinate that this case "absent a clear showing of fraud or other impermissible action".
Strange that BLT's historical prices page on Nasdaq site does not confirm the 4,7 mil stock sale on that certain day. On June 15-th there was only 163 000 shares traded and on June 16th ca 1,9 million shares. Is it possible that this deal was done before or after regular trading hours and that is why it is not reflected in the summary?
http://www.nasdaq.com/aspx/historical_quotes.aspx?symbol=BLT&selected=BLT
Order 7936 dated March 31 2010. On the fourth page, section VI:
On a monthly basis, begginning 105 days after approval of these Settlement Procedures.......
Just a reminder to update your calendars - July 15 is important day. 30 days to go. WGM/A&M has to file report of settlements. Can't wait to see that report.
Until then keep the faith and enjoy the World Cup.
Can someone provide JPMC lawsuit docket number or some other link where investors/creditors can read the official text.
Thank you.