Lehman

Many will suffer at the hands of Lehman Brothers. That is the verdict by white-shoe law firm Wachtell, Lipton, Rosen & Katz - a firm I had the pleasure of working with during my previous life in finance. They are very good.…

Just moments ago Federal Reserve Chairman Ben Bernanke gave a speech in which he said the following about Lehman Brother: "there was not enough collateral to support the lending." This was Bernanke's response to a question about whether…

Given the historic nature of the Lehman Brothers bankruptcy, it bears explaining how the credit default swaps market work and why it matters.

This comes via Credit Fixings. The auction process to settle Credit Default Swap trades on Lehman Brothers bonds put the value of the debt at 9.75 cents on the dollar. That is much lower than one would have expected (12 cents on the…

According to the Times of London, that's what Lehman's creditors seem to suggest in Lehman's bankruptcy filings. Apparently, JP Morgan cut Lehman off the night before it filed for bankruptcy and creditors are blaming this action for Lehman…

The price tag was less than one would have liked, but these are desperate times for sellers of financial assets. Lehman Brothers secured a sale of its crown jewel investment management division for $2.15 billion in a sale to private equity…

Whenever I wade into a new topic like digital photography, gardening or what have you, I visit the local bookstore and get a "For Dummies" book to guide me. I figure that it's the best way to get up-to-speed quickly without…

Apparently Lehman not only failed, it left a gaping hole its accounts. The UK pension scheme is missing £100 million. UK regulators certainly need o investigate whether the shortfalls are the result of criminal activity.However, pensions…

I have taken my time to let the basics of the Paulson Plan seep in before I rushed to judgment. But, the time to judge has come and the plan comes up short on all counts. His plan is geared more toward Wall Street and protecting the…

FT Alphaville has two posts today that mirror my view on the Lehman Brothers bankruptcy. They basically say it was a huge mistake to let Lehman fail. Lehman was, in fact, too big to fail and the blow up in the markets since its failure…