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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Hawkmoon who wrote (10266)10/11/2008 10:20:32 PM
From: pogohere  Read Replies (2) of 33421
 
"Of course that also means the banks, funds and insurance companies that sold it are out $365 billion, which is the difference between the price of Lehman's bonds as set in the auction and the remaining 91.375 cents in face value."

Is there a net loss of $365 bil that accrues to some entities?
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