MicMac - Not a recent material event imo since it was over a year ago. Why is this any more relevant now than it was then?

That company is a penny stock with ties to the UK. Their primary shareholder is My Pleasure Ltd. located there according to the filings I just checked. Certainly nothing new about the lack of "guarantee" or that CT's may not recieve a payout. Maybe they want back in now and can't get shares?

Hestheman - can you tell me why you feel this particular old news is significant since your recent thoughts on the CT's as old cold debt seemed quite positive?

Why exactly is it scary now TooGood? A few I think have to this point survived the perfect storm.

Possibly though the group backing the plan is interesting to say the least given the Lehman failure history. I think they are probably some of the largest.

I'd like TooGood's thoughts since he made a comment.

Why are these trading at less than commons when the N's and others are significantly higher?

Toogood - Since you're one of the numbers guys, what are your thoughts on this increase? Can you find the additional 40B or do you think it's wrong?

Yes it is.

He pumped and dumped. But who was he?

Commons are trading higher than many preferreds still. Trusts are barely at a premium to commons. No volume regardless of news that indicates continued progress.

It seems the Coach Tequila worm doesn't want to turn.

Who was he?

Which will still be not current. Am I correct?

Where's the volume after all the news?

Linda - Who's godfather? Sounds intimidating.

Selling at the bid is one thing. Selling below any EXISTING BIDS is quite another thing entirely and it happens too frequently. Since you mentioned the lack of asks on the K's and H's I assumed you had level 2.

Yes manipulations are ruling the day which was the reason for my reply to Lehman earlier. On the bright side, if the J's go back to .01 quickly they will be up 900% for whoever got the 1500 shares today. And they would still be valued at maybe 1/3 of the commons.

Linda - we have had ample evidence for the past year that posted bids and asks are mostly irrelevant. They do not reflect the actual amount of interest and trades happen below bid frequently.

There is a level 2 ask on the K's showing at .1498. No bid at all? The H's haven't had either for some time. 1000 J's traded today at .001. Ridiculous since the commons are at .034.

Whether anyone can get a large amount at these levels is certainly unlikely but it seems obvious that someone is capable of getting a few thousand at just about any price on the bid and someone has to sell them.

How low is anyone's guess. Looks like the K's traded at .01 today. I doubt that was the highest bid. The question is who is selling them at such low prices and why?

Linda - How do you think the dividend payments for the CT's would figure into that 3 year time frame? They can be deferred for 20 consecutive quartes and we should be at 11 or 12 quarters into that time frame. So what happens if the CT's aren't cancelled 2 years from now?

Anyone feel free to respond.

Daisyxu - Since 2008 the economy has been engulfed with bitterness, while the TBTF banks have continued to harvest profits at the expense of regular taxpayers. The same taxpayers that were also investors.

We can only hope that Judge Peck understands what is potentially at stake with Lehman.

Toogood - Thanks for posting your thoughts again even if you are weary of repeating them. I have a difficult time with the changing numbers and fuzzy balance sheets. : )

Not sure if Argus or anyone posted this article from the 30th though its basically rehash I believe. If anyone notices any new tweak, chime in.

http://www.thedeal.com/content/restructuring/lehman-brothers-heads-to-december-confirmation.php

Thanks Linda - I really don't know what to think about Judge Peck's quick decision.

Lehman is nearing its 3 year anniversary in less than two weeks. In August the media continually made reference to "a potential Lehman-like" event whenever the market fell dramatically lower. Other than the lawyers making hundreds of millions of dollars, there's a big fatigue factor setting in.

If Lehman recovers, it could be another market shaping event.

Best to everyone.

He's been very quiet recently.

This was something I remember reading on the yahoo board a long time ago by daisyxu. It isn't new. And her recent post was cute and familial.

Linda - Do you really think this history is pertinent to the Lehman situation now? If so, why? Maybe you feel Judge Peck is captured or worse. What are your thoughts?

Radium - I've basically accumulated by buying 1/4 to 1/3 of my shares at the lowest ask I can find in the CT's or preferreds while keeping lower GTC bids in. Occasionally then they will partially fill my lower bid.

Lehman holders are use to it.

Those were the days and the pitchfork TA wasn't worth a darn. And after two years I've only been able to accumulate 20% of the shares wanted at the bid.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43440899

http://investorshub.advfn.com/boards/replies.aspx?msg=43440899

Anyone get the feeling that message boards cut both ways?

http://www.google.com/search?sourceid=ie7&q=wamuq&rls=com.microsoft:en-us:IE-Address&ie=UTF-8&oe=UTF-8&rlz=1I7ACAW#sclient=psy&hl=en&rls=com.microsoft:en-us%3AIE-Address&rlz=1I7ACAW&source=hp&q=wamuq+parlay&aq=f&aqi=&aql=&oq=&pbx=1&bav=on.2,or.r_gc.r_pw.&fp=31113ba7e477ce72&biw=1118&bih=556

Lehman lotto anyone remember this?

http://www.google.com/search?sourceid=ie7&q=lehman+lotto&rls=com.microsoft:en-us:IE-Address&ie=UTF-8&oe=UTF-8&rlz=1I7ACAW#sclient=psy&hl=en&rls=com.microsoft:en-us%3AIE-Address&rlz=1I7ACAW&source=hp&q=lehman+lotto+Ihub&aq=f&aqi=&aql=&oq=&pbx=1&bav=on.2,or.r_gc.r_pw.&fp=31113ba7e477ce72&biw=1118&bih=556

Buy the ask and wander in the desert for 40 years because the bid will be set for a 50% loss.

He's had 2 years to accumulate at lower prices with MM favor. Will he come back as Coach Scotch? Nah...maybe something more dramatic like whitelightning.

Are the subsidiaries important in the recovery of assets?

Linda - do you know where Aptus Capital fits in? It was a Lehman managed arm in small - medium cap investments of the Magnum Group.

http://www.hk-lifegroup.com/uploads/news/id91/GLN20090930023.pdf

http://www.magnum.com/DisplayPage.aspx?RowID=78&GroupName=Media

and Magnum on distressed securities. http://www.magnum.com/hedgefunds/distressedsecurities.asp

Man Group. That's a surprise. http://dealbook.nytimes.com/2011/07/18/man-group-buys-funds-lehman-exposure/

Does it matter? It hasn't since coach tequilas crew sold out.

You're correct. I see NITE now bidding 1 @ .009 and on the ask for 1 @ .03.

The problem is its irrelevant data.

This has been going on for two years. Nothing has changed the trading pattern of lehman issues for the better. The market makers are modifying behavior by making buying at the ask a fool's game.

No clue what its going to take to remove their grip on the trading because they can do as they please.

The MM's are not showing any bid and ask on the J's. Quite ridiculous for this to sit at .0001 with the commons at almost .05.

Doubtful it was an institution. More likely a retail buyer that was caught up in the briefly exciting pop a few weeks ago.

Wish I'd sold some J's on that move. They're still trading well below common.

Yup it's funny Ho Ho, instead of Ha Ha.

http://online.wsj.com/article/SB10001424052702303763404576417993277845936.html?mod=googlenews_wsj

MMP - Thank you and you're welcome. Marked you also.

GL to everyone.

MMP - There's no way to know given the low volumes the CT's trade.

If I had to make a guess it was likely a market maker (or computer trade from one) since the trade went through .16 seconds after the open. Most likely NITE or DOMS since they then raised the bid and/or allowed them to then show.

The bid sitting at .01 is for 100K and the same market maker UBSS is on the ask for .10.

MMP - I'm not Linda but here are my thoughts.

When the trade went through the only bid was .01, then two other MM's showed higher bids. It's possible its done for chart purposes (makes the range bigger) and also perhaps to encourage small sells at the new higher bids to raise the price rather than buying at the much higher ask.

It's an effective way so far of discouraging any big buying at the ask prices.

Person marked you. I could use some quick money myself.

LOL! Everybody wants quick money. It's part of the problem.