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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (12252)	10/3/2008 2:49:50 AM
From: axial	1 Recommendation Respond to of 71477

Lehman Bankruptcy Gets Ugly "Now a new and even more troubling scenario is arising: legal disputes stemming from the estimated $1 trillion in derivatives transactions that Lehman had entered into on behalf of itself and some of its customers. Already, at least three lawsuits have been filed, alleging that nearly $600 million in collateral posted by some of Lehman’s trading partners in derivatives transactions hasn’t been returned and is in jeopardy of disappearing as the bankruptcy process unfolds... ... The trouble is there are now a lot of questions about what happened to that $8 billion. It does not appear that $8 billion in cash and securities was ever part of the deal that enabled Barclays to buy Lehman’s New York operation. Trading partners like BofA and hedge funds like Newport that had money parked with Lehman, are now worrying they may never get their assets back. There’s growing concern that some hedge funds may be forced to shut-down if they can’t get their funds unfrozen soon." More: businessweek.com --- Maybe the future is people standing in soup lines while lawyers argue about trillions in Money Heaven. Jim