Lehman Brothers Financial SA (LEHNQ)

[hestheman]

At the end of the day I just believe that the way this POR was designed was purposeful to stop waterfall (money payment) just short of class 10B (and our trust preferred shares) so the trustee will then say Okay..... almost all debt (except class 10B) has been satisfied in full in accordance to the plan, the companies plan is to swap debt for new equity in our reorganized company with class 10B debt issue subnotes/trust preferred stock and all remaining equity (preferreds and commons) will be cancelled (allthough there is always a chance they may issue some new shares to preferreds...it's up to them). Since class 10B notes/trust preferred stock would be the last remaining debt (remember, we are old/cold) and there is no money left in the waterfall, they can utilize us for max NOLs and cancel the rest of equity if they so desire. That's why the reallocation in the plan makes so much sense and i'm glad you reminded some of us.....in the end though it's a good thing. We could make even more money in the reorganized company because they need us. Class 10B is one of their only options to max out those NOLs....which means we will get A GREAT RATIO of new shares. The only thing that s*cks is that we may have a ways to wait. It will happen though, eventually.