Lehman Brothers Financial SA (LEHNQ)

[real777mellon]

Comic Book Guy would say "Worst Appeal Ever" for how long it's taking for common sense that allowing AGFP a way out of the ISDA 1992 agreement entered because it wants to use an "alternative" method to calculate what the CDS were worth based on Lehman's exposure back when the time came to pay up is a way for any other ISDA agreement for CDS to be weaseled out of when it's time to pay up by using some "alternative method" and "auction" which is not part of the agreed ISDA when entering into the arrangement. That would be a precedent that I wouldn't make as a judge with any common sense. Otherwise why even have ISDA's?

You can flip on the terms after following ISDA terms for all the premiums paid by Lehman when AGFP wasn't in danger of being forced to pay up then make your own rules up and have the court rule in favor because the precedent becomes that you are forced to pay up and you legally say no, we value it differently. They go to court and then what? Never in my life have I seen such an easily won case by the #1 law firm in the city which is Quinn Emmanuel LP in NYC representing Lehman be dragged along by this Melissa A. Crane who thinks the law just changes whenever the agreement is broken and alternative measures suit the one liable to pay out those CDS with a market value that's tied to Lehman's exposure at the time the swaps should've insured their losses from the market switching and the MBS crashing.

Also there's a lawyer on this appeal called John McAfee Super. If the Super McAfee is alive as some back from the day deity - how can they lose? Melissa A. Crane get your shit together!