Hmm, Catdaddyrt There is big gap between .....
Lehman had to file bankruptcy because of temporary liquidity evoked by competitors and "friends" in Government (read JPM and GS). That is why Lehman bankruptcy is soo appealing. It was caused by TEMPORARY LIQUIDITY problems not fundamental flaws or fraud. Meaning there are lot of assets left for you and me.
It is well know fact that average Joe and Jane around the globe and also in US in financial industry did not know before 2008 crisis that there is even such a position like Secretary of the Treasury (until Hank popped up with weekend long teleinterviews in CNBC, CBS etc during THAT weekend) - before Lehman crisis it was all about Volker, Greenspan and Helicopter. Google it, who was Henry Merritt "Hank" Paulson, Jr and to whom he worked for before he became Treasury Secretary and why the hell he popped out suddenly around that weekend. You really think Ben with hes numerous advisors could not handle the situation?
So, why did Lehman had to file???
And to answer your post #26572
"some(many) of these creditors bought Lehman debt for pennies on the dollar and Judge Peck knows it - do you think for one minute they are going to collect 100% on those claims ????????? "
YES!!! They are going to get the whole friggin 100%!!!!!!! NOT 20%, not 30% but 100%! And then we are going to get our bite! One way or other. Same way we paid pennies we are going to collect some hefty profit. It's that simple! - its all about temporary liquidity vs fundamental flaws. Repo 105 that is the most colourful allegation against management was a common practice in wall street, every singel investment institution did that at the time! The fact that "Gorilla" and co are walking around free is even more colourful. So get ready for 100% or so and drink Coca-Cola.
