Lehman Brothers Financial SA (LEHNQ)

[highwaymap]

The CT preferreds has nothing to do with LBHI's capital structure. The CT preferreds are preferreds of the Trust and not LBHI. LBHI created the Trust so they can pay Interest on the subdebt. The subdebt is now in 10b. We are trups. But, a broken trups. We can no longer be converted to equity as per the ECAPS ruling by Chapman. The only way to get paid right now is through the debt and that is in 10b. So, unless you can get out of 10b, we are not getting paid.

The more I think of it, the more I ask myself, WHY ARE WASKE AND WU FIGHTING SO HARD?