Lehman Crashing !!!!!!!!!

Feels great to have made some cash shorting them. Just made 33% since I got in yesterday around 14. Couldn't be happening to a nicer company with a nicer group of guys.
 
Quote from pkts:

Guess who's calling Paulson right now asking for a little sugar?
More...

See 'Gallows Humor". LOL

The SEC has bylaws. They've already shot their wad. They can't come in and portect Lehman anymore, or they'll get sued. I won't take the trade. Just personal. But I can't see how the stock can stay up given the 'rules' the SEC has in place and won't enforce.

You might want to pull the 11:24 clip with John Tabacco. He's handing you the keys to the kingdom.

Good luck.
 
I found the answer I was looking for:

NEW YORK, Sept 9 (Reuters) - The cost of protecting Lehman Brothers' (LEH.N: Quote, Profile, Research, Stock Buzz) debt with credit default swaps rose by 125 basis points on Tuesday as concerns that it may be unable to raise needed capital battered its shares.

Five-year credit default swaps on Lehman Brothers traded at 450 basis points, or $450,000 a year to protect $10 million of debt, 125 basis points wider than Monday, according to data from Phoenix Partners Group. For details click on [ID:nL9561695] (Reporting by Dena Aubin)
 
Everyone at LEH should be getting their resumes together. Lots of opportunity in cold calling bolier rooms for them thankfully.
 
Quote from flytiger:


The SEC has bylaws. They've already shot their wad. They can't come in and portect Lehman anymore, or they'll get sued. I won't take the trade. Just personal. But I can't see how the stock can stay up given the 'rules' the SEC has in place and won't enforce.

You might want to pull the 11:24 clip with John Tabacco. He's handing you the keys to the kingdom.

Good luck.
More...

12:00 LEH Lehman Brothers: U.S. SEC declines comment on Lehman - Reuters (9.29 -4.85) -Update-

nuthin' they can do. They chose not to enforce their own laws, now, Lehman is defenseless. Do they deserve it? Probably. Is this good for anyone? Three or four hedgefunds.

http://www.cnbc.com/id/15840232?video=849302999&play=1
 
They never did come out after Mer offering did they? Their books are a mess, not sure how they are marking things these days, but Mer should have been what to mark to.
 
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