Lehman Brothers Financial SA (LEHNQ)

[hestheman]

I know that the 5 percent rule applies to reg preferreds and commons....but could there be some kind of an exception as it partains to CT's because of their hybrid equity/debt? Remember, the 5 percent rule DOES NOT apply to debt. I think that may be what the case is here although I am not 100 percent positive. If so...Lehman could indeed be buying these back and it looks as though they are being slow and calculated about it.