http://globaleconomicanalysis.blogspot.com/2008/09/lehman-worth-big-zero.html On Deck: Lehman Lehman(LEH) preferreds are now offered in size at 17%. Washington Mutual (WM) CDS are trading around the 30% level. Me thinks LEH is next. And if you own the preferreds, you can expect... zero. The best case is that the company sells its good assets and ends up a carcase. Meanwhile, most of my Street contacts won't trade with 'em. Does anyone have a link to this Minyanville article?
Didn't their execs give themselves bonuses that surpassed the earnings of the company? Why wouldn't anyone want to own what's left??
Does anyone else take pleasure in seeing them crumble? I mean, it couldn't happen to a better group of guys. Another one bites the dust....and another one gone and another one gone