Lehman Brothers Financial SA (LEHNQ)

[Starnes]

Would it not be more "eye opening" for us as the CT holders to qualify our inquiries about who holds the debt? My understanding is the CT holders own the assets held within the guarantee, whereas Barclays hold the debt associated with its liabilities ( as you point out)......That is broken down further by stating that the hybrid nature of the CTs have an equity component but the bond component is a debt instrument which cannot be dismissed...It seems we are off track these days about the NOLS but if they are still intact, they have to be mentioned as "debt" moving forward..

I may be off, but think it would spur along more conversation to mention debt in equal light as assets...I think our key to recovery is we are a debt instrument, often labelled as unsecure creditors..