Lehman Preferred Series "J" Preferred (fka LEHJQ)

[coach tequila]

Lehman going on offense against Barclays again in LBHI Dockets #7501 and 7502!

I love it.

Just too many factors up in the air to throw any class of stock out IMO.

A= $272B
L= $316B or -$44B plus $11B to pay face on Preferreds.
LTV at 86%

Need $55B to make up deficit and pay full value on Preferreds.

10B NOL's worth $10B
8B Barclays
17B JPM
16B?? Increase in Asset Value since 6/30/2009 (6% of 272B)
$16B LBI=

$67B see how easy that was? Plus anything from the Examiner's Report?? How about the mysterious write downs of $80B in the "Investments in Affliates" category on the balance sheets 12/31 and 6/30? That is the biggest reason that assets are less as of 6/30/2009.

Its coming...the Perfect Storm.