Replies to post #117 on Lehman Bros 7.25% Pref''d Series P (fka LEHPQ)

[VivaLasVegas]

1) Same Lawyers handling Lehman case as WaMu's. It's Chapter 11 filing at this point and not Chapter 7 liquidation.

2) JPM withheld/froze $17 Billion of Lehmans Trading Capital which caused Liquidity Crisis and Market Meltdown.

3) I believe the same group of Financial companies naked shorted Lehman and WaMu.

4) They've discussed publicly that the LEHMAN DEBT HOLDERS would be tossed into a one BIG POOL. People have discussed a possibly 5% - 20% recovery rate at first, possibly for down the line. Not sure is this is still the plan or not.

This is why I and many others here are taking a stand on the Lehman Capital Trusts (Jr. Subordinated Debt) ( LEHKQ, LEHLQ, LHHMQ, LEHNQ) All have $25.00 face value and they're all trading between a few pennies and a nickel or so. Do the Math.... What is 1% recovery? What is 10% ?

OH YEAH. Hope it helps.

Cheers