Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

Lehman is no WMIH.

Lehman is a liquidating trust that will be wound down to nothing.

WMIH was basically a reinsurance company in wind down that had capital and was looking to merge with another entity to monetize their NOLs. WMIH NOLs were not needed to be utilized for cancellation of debt. WMIH had about $600 million is cash that was raised from the sale and issuance of preferred shares with the express desire to use to merge with another company. The IRS had no claim to WMIH's NOLs from cancelled debt.

At the end of Lehman court ordered liquidation, Lehman will have no cash, no employees, and no business. There is zero economic benefit for anyone to resurrect Lehman.