Monday, December 29, 2008


I guess this how we went from NO MORE BAILOUTS to LET'S BAILOUT ALL THE RICH PEOPLE in about 24 hours.

NEW YORK (Reuters) - Lehman Brothers Holdings Inc's (Other OTC:LEHMQ.PK - News) emergency bankruptcy filing wiped out as much as $75 billion of potential value for creditors, The Wall Street Journal reported on Monday, citing an analysis by the bank's restructuring advisers.

A more planned and orderly filing would have allowed Lehman to sell some assets outside of bankruptcy court protection and would have given it time to unwind derivatives positions, according to the analysis by Alvarez & Marsal.