Lehman Preferred Series "J" Preferred (fka LEHJQ)

[surfstocks]

It sounded to me like most of it belonged to LBI's clients and counterparties....

", largely held for the benefit of customers and other LBI
counterparties, was reflected in the LBI accounts held through the Clearing Agency Subsidiaries."

Sounds like the Clearing Agency Subsidiaries is kind of like a Scottrade account for LBI, in a manner of speaking. DTCC just froze all activity on the account in the middle of some failed and pending accounts and did not allow them to be liquidated. Some transactions may or may not have been weaved into the Barclay's deal, and will be a tedious process to sort through as there were tens of thousands of transactions to sort through. That's how I read it anyway.