Replies to post #8736 on Lehman Brothers Financial SA (LEHNQ)

[marayatano]

It appears that you are not familiar with bankruptcy and how sub bonds work.

Example (keeping it simple):

If a senior get $100 and a sub bond gets $100, then that distribution to the sub bond is reallocated to the senior which now has $200.


Have you head of that song:

Jack and Jill, went up the hill.

Each with a buck and a quarter, Jill came back with $2.50.

What a working girl, now work it girl.

Jill is the senior creditor.

You should discuss this with your attorney friend you mentioned. Make sure he understands bankruptcy.

imo