Replies to post #10884 on Lehman Preferred Series "J" Preferred (f

[daktok]

In strange moments like these, we should step back and look at what we KNOW:
1) We KNOW our shares will survive in their current relative positions, regardless of the class crap. This was explicitly said. Also, case law backs this.
2) As pinda and brikk pointed out, we KNOW that they will go to the judge with the proposal for a 30 billion dollar company. Would they ask Judge Peck to reorg with only 1 billion A>L? No. What about 20 billion A<L? Also, no. Therefore, like pinda said, this means they KNOW that there is at least a minimum of 30 billion A>L after creditors are paid off.
3) This is important: With the fast track for the payoffs, this will speed things up and cut a percentage off of claims. For us, there is no downside for this. No two ways about it -- This is great news!

Perhaps they would be foolish enough to go in front of the judge with A<L, but I honestly cannot imagine such a scenario even in a hypothetical world. Remember, Judge Peck got pissed (rightfully so), when Barclays pull their $5 billion+ stunt.

Oh yeah, that selloff this morning was Mr. Bearyan Alphabet. AKA Marasomethingoranother.....