Friday, October 10, 2008

That's a Shitty Shitpile

Chatter around the internets yesterday was that this stuff would go for less than 10 cents on the dollar Advantage internets!

NEW YORK, Oct 10 (Reuters) - Sellers of protection on bankrupt Lehman Brothers LEH.N (LEHMQ.PK: Quote, Profile, Research, Stock Buzz) are facing losses in the area of 91.25 percent of the insurance they sold, based on the initial results of an auction on Friday to determine the value of the credit default swaps.