Mystery of the Day: Who Wrote This Email to the Fed Just Before Lehman's Collapse?
By EB
Published on ZeroHedge ( http://www.zerohedge.com)
Created 03/23/2012 - 10:15
 [1]
Submitted by EB [1] on 03/23/2012 10:15 -0400
Bankruptcy Code [2] Counterparties [3] Lehman [4]
Submitted by EconomicPolicyJournal.com [5]
And, here it is....
Feel free to leave your best guess(es) in the comments along with your reasoning. We have our own, but will wait to disclose so as not to corrupt the noodling process.
On another note, doesn't this pretty much destroy the systemic risk argument that was used to justify the sweeping changes to the bankruptcy code in 2005, which grants exemptions for derivatives and repos from automatic stay? In other words, if all the counterparties to a bankrupt entity can liquidate the counterparty's collateral they're holding for repos and derivative trades, doesn't that fuel the "wave of selling unlike any we have seen before"?
Thank you ISDA [6].
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Bankruptcy Code Counterparties Lehman
Source URL: http://www.zerohedge.com/contributed/2012-12-23/mystery-day-who-wrote-email-fed-just-lehmans-collapse
Links:
[1] zerohedge.com
[2] zerohedge.com
[3] zerohedge.com
[4] zerohedge.com
[5] english.economicpolicyjournal.com
[6] www2.isda.org
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[6]
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