Lehman Brothers Financial SA (LEHNQ)

[The Godfather]

Well,the story gets better because of what's happening with the UK LEH CTs. Reading up on what cotton has posted has convinced me that there is value in the CTs. Just not sure what that value is which depends on a lot of factors.

For me, I still think that when everything is done, CTs will either be given new equity in the new Lehman or will be purchased on the market and retired. The NOLs are the key and that is a huuuuge amount. I haven't seen any evidence of Barclays or anyone else that inherited/bought certain Lehman brothers entities utilize the LEH NOLs so the $50 to $60 Billion is still intact as far as I can tell. That will be a game changer once all distributions are done and dusted. After nearly a dozen years, the end seems to be around the corner.