Lehman Brothers Financial SA (LEHNQ)

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Here is Gems Opinion... Not MIne. And solvanancy is unclear
But speaks for itsself at best its tangled and held at bay.
Gem: "Yes, the derivatives market is still very much in business. It's a massive global market estimated at over $1 quadrillion.

Here's a breakdown of your questions:

Derivatives Market:

The derivatives market is alive and well. It plays a significant role in various financial activities like hedging risks, speculation, and managing exposure to different assets.
ABS/RMBS Contracts:

Asset-backed securities (ABS) and residential mortgage-backed securities (RMBS) can be used as underlying assets in derivative contracts.
Whether these contracts perform depends on the specific terms of the contract and the performance of the underlying assets (ABS/RMBS) they are tied to.
GFC (Global Financial Crisis) and Derivatives:

The 2008 GFC exposed some issues with complex derivatives tied to troubled mortgage loans.
However, the derivatives market itself wasn't the sole cause of the crisis. It contributed by amplifying the losses.
Insurance Contracts and Resolution:

It's difficult to say definitively without more details on the specific derivative insurance contracts and the involved parties.
These contracts might have specific payout triggers linked to certain events or performance metrics of the underlying ABS/RMBS.
Potential Outcomes:

If the ABS/RMBS perform poorly and trigger the payout conditions, the insurance contracts might pay out to the solvent banks.
However, the contracts might have clauses that exclude payouts based on specific scenarios.
Here are some additional points to consider:

The situation likely involves complex legal and financial details.
Determining the outcome might require reviewing the specific terms of the contracts and the performance of the underlying assets.
If you're interested in learning more about this specific situation, it's advisable to consult with a financial professional familiar with derivatives and the circumstances surrounding the GFC. They can provide a more informed analysis based on the details."
Thats its opinion .. GLTU