| Quote: |  | |
| second, bankruptcy does not mean there's nothing left to take ... Lehman had $ 639 BILLION in assets... those are probably worth some 350 billion in a distress sale, but that's not small change either. | |
| | |
There is no way that Lehman's assets were worth half their face value. Maybe 10%, maybe 5%, see Roubini's latest Youtube. In fact one of the problems is that no-one knows what they are worth, not even Shorrick. Untangling the web woven by the quants is almost impossible. So to be on the safe side assume it's worth nothing.... On the other hand, apparently Barclays is up for some juicy pickings, so there must be a few good bits left.