Lehman Preferred Series "J" Preferred (fka LEHJQ)

[DJN]

Lehman Brothers' collapse had many terrible repercussions. Perhaps the worst: Governments are now more likely than ever to rescue a firm like Lehman.

Because of the meltdown that followed Lehman's crash, governments feel they have cover to do pretty much anything to avoid a similar bankruptcy. This means all large banks enjoy de facto state protection.

A year after Lehman, politicians and regulators are still groping for ways to deal with this issue. Meanwhile, the large banks that survived are making big profits on the back of the more-explicit taxpayer-backing they enjoy because of Lehman's demise. Can ...

http://online.wsj.com/article/SB125263108968101779.html