Lehman Preferred Series "J" Preferred (fka LEHJQ)

[coach tequila]

Sorry everyone I have been in and out but trying to keep an eye on the Report...

It seems pretty much in line with what we were discussing last night.

Lehman was responsible in many ways for its leverage and being "at the precipice".

Mr. Marsal has long espoused that JPM and CITI were the last ones to assist in Lehman's lack of liquidity...now we have confirmation. Knowinng A&M they already have the lawsuit waiting for both JPM and Citi.

I think a new element in the game is now Ernst & Young for their "accounting practices".

Barclays did benefit...to what extent we do not have the full details.

Lastly, what about this deal with CME? I think there is another potential element that will assist Lehman assets.

Overall, it is about what was expected. We have more assets that need to come home...and they will.

I like...now for the WAMU settlement and then Monday the balance sheet and reorg...Gotta go will be back later.