Lehman Brothers Financial SA (LEHNQ)

[ron_66271]

No , It Was $17 Billion That Was Withheld.

On September 14th 2008 JPM was broke and was unable to fulfill their commitment to Lehman’s.

“Mark to Market”
Lehman’s and JPM had an ongoing agreement that JPM would loan Lehman’s the money to close Lehman’s books “Mark to Market” at the end of the day.

Lehman’s was therefore unable to close their books and was forced to file for bankruptcy on the 15th.

What happened in 2008 was a Derivative Market Meltdown, and JPM was the main player.


Ron