Lehman Brothers Holdings Capital Trust III (LEHKQ)

[joyceschoice]

I guess the commons mystify me that they are still trading at .04. Who's buying and selling them? The only advantage is they have more liquidity.

Many of the preferred shares like LEHCQ @.06 LEHGQ @ .03 are trading a prices comparable or cheaper than the common. Also many of the C/T's can and do trade at levels during the day not much higher than some preferred issues. Given the pecking order of the payback from a restructuring, this seems to be quite a bit of disconnect with reality.

It would seem the commons should be much much lower or the C/T's and preferreds higher. Am I wrong?