Lehman Brothers Financial SA (LEHNQ)

[newflow]

NOLs can be utilized only when Assets > Liabilities.If A>L, debt should be satisfied and waterfall goes to equity.If A>L, that means equity is getting something.NOL worth $54B is a boon for big companies such as LAMCO,CIT,JPM..Barclays..etc.So the main point is A>L, and also means CTs should be satisfied before equity gets any drop.IMHO.I am not any professional, just a shareholder.