Lehman Preferred Series "J" Preferred (fka LEHJQ)

[coach tequila]

CAN YOU THINK OF ANY COMPANY THAT MIGHT BENEFIT LIKE METLIFE HAS IN THE LAST NINE MONTHS??

MetLife’s Surge in Corporate Debt Bolstered AIG Bid (Update2)
Hugh Son, John Detrixhe and Andrew Frye
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7tFOsuMDWak&pos=3

March 8 (Bloomberg) -- MetLife Inc., the insurer that increased its bid to acquire a unit from American International Group Inc., was bolstered by more than $16 billion of gains in its corporate bond portfolio in the last nine months of 2009.

MetLife will pay about $15.5 billion for an American International Group Inc. unit with operations in more than 50 countries, the companies said today. That is about $4 billion more than the New York-based company offered in a preliminary bid for American Life Insurance Co. a year ago, according to people with knowledge of the negotiations who declined to be identified because talks were private.

MetLife’s book value per share, a measure of assets minus liabilities watched by ratings firms and investors, rose about 44 percent in the three quarters ended Dec. 31 as recovering debt markets buoyed the value of its corporate bond portfolio to more than $100 billion. The rebound contributed to a 55 percent surge in MetLife shares in the period, helping the insurer as it pays $8.7 billion in equity securities as part of the AIG deal.

Oh Yeah...