Replies to post #2920 on °¿°

[AnderL]

Sorry no link its word of mouth. You know the deal, my cousin's cousin who worked at BSC.

Said that the terms of the auction says that the debt has to be paid for on the 22nd. Before the WAMU auction start on 10/23. If I find a link somewhere I'll post it here.

[AnderL]

The results will be published on the day of the auction. Initial results are due to be published at 10:30 NY Time and final results at 14:00 NY Time.

Each Adhering Party agrees that the Cash Settlement Date or the Cash Settlement Date in respect of the Lehman Portion, as applicable, is October 21, 2008 (the "Cash Settlement Date").

I was emailed this link:

http://www.isda.org/2008lehmancdsprot/docs/Lehman-CDS-Protocol.pdf

So its the 21st, no the 22nd. Maybe a rally after its all said and done? But WAMU is on the 23rd.