Lehman Preferred Series "J" Preferred (fka LEHJQ)

[slimugrian]

You are way too conservative. I think after the first block of court sessions it's much clearer that the name of the game is canceling the brokerage unit sales. Barclays guys know they have to settle caus they know it's not the fhish market in Seattle that smells. Lehman/A&M guys just don't want to settle. Why would they? 11 bln or 13 bln or what ever the sum is they are seemingly fighting over is even in 5 years term (imagine 15 years period) pennys to pay for brokerage unit. That brokerage unit put Barclays in the big boys league. Before that Barclays was literally "English municipal bank". For Barclays, brokerage unit would earn settlement money (11 or 13 or even 20 bln) back in 2-3 years. For Lehman, getting back that brokerage unit would solve basically all problems - 11 bln from settlement wouldn't change much for estate. Barclays buying Lehman claims is one indication they are spreading the risk.

Just two more cents.