Lehman Brothers Financial SA (LEHNQ)

[chessman]

The point is ...

The point is not that the CTs are debt -- I have always known that -- it's just whether the CTs will be lumped in the big share pot. That will be the confirmation. Some have said -- and you may have been one of them -- that they could and would be lumped in with the commons and preferreds. I am simply saying that if they are not, then that will confirm recognition of the CTs as a debt instrument, and then the ball begins rolling in favor of the CTs.

As for the FJR, it was the IT claims that caused Walrat to even consider colorable claims. You should get your facts straight. Go ask the better DDers on the WAMU boards.

Chessman