Lehman Bros 7.25% Pref'd Series P (fka LEHPQ)

[unevilfavouredness]

What's an NOL? Are you talking about the new change in taxes that writes down the past five years, as it was prior to before just the past two years a company could write down? If that is what experts are attributing the jump in Wamu commons and the preferreds this past week, the same should happen with Lehman. Look at LEHPQ and LEHJQ, they were flat for months with no bid or ask, and now at least have a spread.