Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

So why the hypotheticals? Why did you not ask directly about the Lehman bk?

Mr Kahn, As a creditor I own junior subordinated debt in Lehman. The court has ordered total liquidation of Lehman's assets. Those assets will come up about $130 bil short of paying off creditors including me as a creditor.

1. Will Lehman's $50 bil in NOls be expected to be fully utilized as the company has reported due to COD?

2. Do you think there is a chance that the $130 bil shortfall can be exchanged for equity in a liquidated company with no remaining assets?