Lehman Preferred Series "J" Preferred (fka LEHJQ)

[coach tequila]

If Lehman was not forced to Chapter 11 by unscrupulous acts, it would not take 2,200+ pages to say that. In addition, there are some 3,800 pages of supporting documents as appendicies.

No doubt, Lehman management takes heat over the leverage factor...however, you cannot take Billions of Dollars out of cash and asset accounts without taking the most liquid, non-leveraged companies down.

Let's hope that the "naked shorts" are also addressed in this report like ABN AMRO was investifated for by Mr. Valukas.

Still say, Barclays and/or JPM are going to step up and buy the whole bunch of Lehmans. Just my opinion.