Replies to post #751 on Lehman Brothers Holdings Inc. (fka LEHMQ)

[SAGA]

I feel bad for the people who have lost significant money or jobs due to the ineffectivness of paulson and the arragonce and mistakes of Fuld, but I bought LEH at .21 as did many others- my view is much different than the guy who bought much higher. because my entry point is so low- LEH will be a significant vehichle to make serious returns- the company simply has too many assests on the books to be valued at the current pps.IMO Their is NO WAY the pps will stay at this level- it has to go much higher!!

[Capinvest63]

Spoke to Sean Butler -

Head of IR. She had left her post on Feb. 1st, returned to help a month back. She as honest as any IR person I have ever spoken with.

Question: Why turn down the $26 per share by the Koreans?

Answer: The Koreans backed out first, we had accepted the offer, yet the Pres. of the National Bank rejected the deal.

Question: Why file for BK, were there no other options?

Answer: The government was implicit that the Fed window would be restricted to us after the weekend, and the derivatives market being opened on Sunday was a clear indication to us that they were not going to help us in terms of providing a backstop. In the 11th hour, it became clear that between LEH and MER, they were more interested in saving MER.

Question: Is it true that Barclays was offering $12 to $14.

Answer: Your sources are very good, all I can say is that it was very close to that, in the neighbourhood of that amount. However they required a government backstop and Mr. Paulson was adamant that we would not be afforded such.

Question: Why did Fuld wait so long????

Answer: I am as disappointed as you are, my losses are in the hundreds of thousands as I held restricted shares. The hubris was the culprit in the final outcome.

Question: Will the common shareholder see any money beyond the trading range?

Answer: The capital structure places the common shareholder at the very low end of that "pyramid", thus I would have to say that despite the sizable assets, our obligations are great.

Question: Have you received a delisting notice yet?

Answer: The NYSE has only begun "processing" the situation. Thus I would tell you that it could be days or weeks.

I have paraphrased most of her responses. She said that it could take days or weeks to reply to each call. I have called 7 to 8 times every day and finally got through. She was very candid and cordial.

Cheers