My forgotten child, here's some love:
LBHI DOCKET #5514 HAS THE UNSEALED PAGES IN IT!
Posted by: coach tequila Date: Thursday, October 15, 2009 5:13:10 PM
In reply to: None Post # of 3387
http://chapter11.epiqsystems.com/docket/docketlist.aspx?pk=de7ced2b-52e7-4172-92e1-9ec425933bd0
Grab your favorite cocktail and let's see what all of the LEHMAN team wanted everyone to know about!
The Perfect Storm Continues!
LBHI DOCKET #5514 HAS THE UNSEALED PAGES IN IT!
Posted by: coach tequila Date: Thursday, October 15, 2009 5:13:10 PM
In reply to: None Post # of 3387
http://chapter11.epiqsystems.com/docket/docketlist.aspx?pk=de7ced2b-52e7-4172-92e1-9ec425933bd0
Grab your favorite cocktail and let's see what all of the LEHMAN team wanted everyone to know about!
The Perfect Storm Continues!
Lehman Says Negotiators Knew Barclays Got $5 Billion Discount
By Christopher Scinta
Oct. 16 (Bloomberg) -- Lehman Brothers Holdings Inc. executives who negotiated the sale of its North American brokerage business to Barclays Plc knew it came with a $5 billion discount based on the book value of assets to the U.K.-based bank, according to a court filing by Lehman.
Ian Lowitt, Paolo Tonucci, Bart McDade and other Lehman executives who worked on the deal were aware Barclays was getting securities valued at about $50 billion for $45 billion in cash, according to a motion by Lehman seeking the return of some assets from Barclays. Lehman filed the motion in U.S. Bankruptcy Court in Manhattan in September and it was unsealed yesterday.
http://www.bloomberg.com/apps/news?pid=20601087&sid=auigHVNOjKmk
Hmmm, details finally starting to be revealed now that the court has ruled to unseal the documents (Sweet). This should get more and more interesting in coming weeks/months. Hopefully those LEHPQs start moving. Thankfully, I was able to grab 300 more for only $5 today. I'll keep accumulating for my collection. At .5% Face Value, these are a steal. Hopefully they catch up with the WAMPQs eventually.
Time will tell ... @)
By Christopher Scinta
Oct. 16 (Bloomberg) -- Lehman Brothers Holdings Inc. executives who negotiated the sale of its North American brokerage business to Barclays Plc knew it came with a $5 billion discount based on the book value of assets to the U.K.-based bank, according to a court filing by Lehman.
Ian Lowitt, Paolo Tonucci, Bart McDade and other Lehman executives who worked on the deal were aware Barclays was getting securities valued at about $50 billion for $45 billion in cash, according to a motion by Lehman seeking the return of some assets from Barclays. Lehman filed the motion in U.S. Bankruptcy Court in Manhattan in September and it was unsealed yesterday.
http://www.bloomberg.com/apps/news?pid=20601087&sid=auigHVNOjKmk
Hmmm, details finally starting to be revealed now that the court has ruled to unseal the documents (Sweet). This should get more and more interesting in coming weeks/months. Hopefully those LEHPQs start moving. Thankfully, I was able to grab 300 more for only $5 today. I'll keep accumulating for my collection. At .5% Face Value, these are a steal. Hopefully they catch up with the WAMPQs eventually.
Time will tell ... @)
Cant forget about our Red-headed step-child ~~:<<
Lehman Deal: Pearls Before Swine?
http://blogs.wsj.com/bankruptcy/2009/10/19/lehman-deal-pearls-before-swine/
Lehman Deal: Pearls Before Swine?
http://blogs.wsj.com/bankruptcy/2009/10/19/lehman-deal-pearls-before-swine/
She's not out of business, people seem to not realize this yet:
Lehman Said to Return to Mortgage Market Through Aurora Unit
Oct. 21 (Bloomberg) -- Lehman Brothers Holdings Inc., the investment bank brought down by the U.S. mortgage crash after 158 years, is set to return to funding home loans through its Aurora Loan Services unit, people familiar with the matter said.
Continued here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=ac8Lp.sBc7R4
Lehman Said to Return to Mortgage Market Through Aurora Unit
Oct. 21 (Bloomberg) -- Lehman Brothers Holdings Inc., the investment bank brought down by the U.S. mortgage crash after 158 years, is set to return to funding home loans through its Aurora Loan Services unit, people familiar with the matter said.
Continued here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=ac8Lp.sBc7R4
Now the Examiner Anton Valukas wants to investigate the SEC.
http://amlawdaily.typepad.com/amlawdaily/2009/10/lehman-examiner-wants.html
Lehman Examiner Wants To Interview Ex-SEC Chief
Posted by Zach Lowe
October 23, 2009 2:18 PM
The examiner investigating the collapse of Lehman Brothers has requested an informal interview with Christopher Cox, the former head of the Securities and Exchange Commission who left the agency and joined Bingham McCutchen as a partner in July.
The SEC has not yet made Cox available for an interview with the examiner, Jenner & Block's Anton Valukas, according to an update Bingham filed in Lehman's Chapter 11 case on Thursday.
Bingham has made several filings announcing their representation of Lehman on tax issues since the firm's acquisition in July of McKee Nelson, which had been serving as Lehman's special tax counsel throughout the bankruptcy. The main McKee lawyers involved in the Lehman matter moved to Bingham and still are handling the case.
The SEC "is determining whether other current or former agency personnel should respond to this request for information in lieu of [Cox]," the filing states.
Valukas, a former federal prosecutor, has subpoena power in his investigation of the events leading up to the firm's collapse, including several large cash transactions between Lehman entities in the days before the company filed for bankruptcy on Sept. 15 of last year. Valukas declined to comment. A Bingham spokeswoman did not immediately return a call seeking comment.
In its filing, Bingham says "the firm will have no role in connection with any potential interview [of Cox], and will implement an ethical wall to avoid even the appearance of impropriety."
Ironically, some of Bingham's clients took the most aggressive stances against Lehman in the early days of the company's bankruptcy filing last fall. One Bingham client, investment fund Harbinger Capital Partners, filed the most contentious motion--a request to open Lehman's books so creditors could investigate allegedly suspicious bank transfers made shortly before Lehman's bankruptcy filing.
And in mid-November 2008, two months after Lehman's Chapter 11 filing, Deutsche Bank (represented by Bingham) sued Lehman to reclaim $72.5 billion it accidentally transferred to Lehman more than a week after Lehman's bankruptcy filing.
http://amlawdaily.typepad.com/amlawdaily/2009/10/lehman-examiner-wants.html
Lehman Examiner Wants To Interview Ex-SEC Chief
Posted by Zach Lowe
October 23, 2009 2:18 PM
The examiner investigating the collapse of Lehman Brothers has requested an informal interview with Christopher Cox, the former head of the Securities and Exchange Commission who left the agency and joined Bingham McCutchen as a partner in July.
The SEC has not yet made Cox available for an interview with the examiner, Jenner & Block's Anton Valukas, according to an update Bingham filed in Lehman's Chapter 11 case on Thursday.
Bingham has made several filings announcing their representation of Lehman on tax issues since the firm's acquisition in July of McKee Nelson, which had been serving as Lehman's special tax counsel throughout the bankruptcy. The main McKee lawyers involved in the Lehman matter moved to Bingham and still are handling the case.
The SEC "is determining whether other current or former agency personnel should respond to this request for information in lieu of [Cox]," the filing states.
Valukas, a former federal prosecutor, has subpoena power in his investigation of the events leading up to the firm's collapse, including several large cash transactions between Lehman entities in the days before the company filed for bankruptcy on Sept. 15 of last year. Valukas declined to comment. A Bingham spokeswoman did not immediately return a call seeking comment.
In its filing, Bingham says "the firm will have no role in connection with any potential interview [of Cox], and will implement an ethical wall to avoid even the appearance of impropriety."
Ironically, some of Bingham's clients took the most aggressive stances against Lehman in the early days of the company's bankruptcy filing last fall. One Bingham client, investment fund Harbinger Capital Partners, filed the most contentious motion--a request to open Lehman's books so creditors could investigate allegedly suspicious bank transfers made shortly before Lehman's bankruptcy filing.
And in mid-November 2008, two months after Lehman's Chapter 11 filing, Deutsche Bank (represented by Bingham) sued Lehman to reclaim $72.5 billion it accidentally transferred to Lehman more than a week after Lehman's bankruptcy filing.
Lehman may be preparing to make home loans again
http://seattletimes.nwsource.com/html/realestate/2010125207_lehmanloans25.html
Lehman may be preparing to make home loans again
Lehman Brothers Holdings, the investment bank brought down by the U.S. mortgage crash after 158 years, is set to return to funding home...
By Jody Shenn
Bloomberg News
Lehman Brothers Holdings, the investment bank brought down by the U.S. mortgage crash after 158 years, is set to return to funding home loans through its Aurora Loan Services unit, people familiar with the matter said.
Aurora, which helped make Lehman the top underwriter of mortgage bonds during the housing boom, has started hiring staff for the effort, they said.
The expansion comes even as New York-based Lehman is shrinking through asset sales, 13 months after filing for the biggest bankruptcy in history and selling its North American investment-banking unit to Barclays.
While Aurora will be forced to focus on the government-backed mortgages now accounting for 90 percent of new home loans, rather than the riskier debt it specialized in as recently as two years ago, reduced competition has made that market more profitable.
"For the ones that are left, there's opportunity," said Steve Jacobson, chief executive of Fairway Independent Mortgage in Madison, Wis.
His originations soared 67 percent from a year earlier to $2.6 billion in the first nine months of 2009.
Less competition has boosted per-loan profits, to $1,088 in the first quarter from $657 in 2004, according to Mortgage Bankers Association studies.
Aurora, once a specialist in so-called Alt-A mortgages, may start lending again through other companies and brokers, as well as directly to consumers, according to the people familiar with the plans. The Littleton, Colo., firm has remained a servicer of outstanding mortgages and is owned by Aurora Bank, formerly Lehman Brothers Bank. The bank unit didn't enter bankruptcy protection with its parent.
Subprime mortgages were offered to borrowers with the worst credit records.
Alt-A loans, a step above, were given to borrowers seeking atypical terms, such as a lack of income verification.
Aurora, Lehman and the U.S. Office of Thrift Supervision, the bank's regulator, declined to comment.
Lehman was the largest underwriter of so-called non-agency home-loan securities in 2007, when the market collapsed, selling $67.6 billion of the debt, or 9.6 percent of the total, according to newsletter Inside MBS & ABS. .
http://seattletimes.nwsource.com/html/realestate/2010125207_lehmanloans25.html
Lehman may be preparing to make home loans again
Lehman Brothers Holdings, the investment bank brought down by the U.S. mortgage crash after 158 years, is set to return to funding home...
By Jody Shenn
Bloomberg News
Lehman Brothers Holdings, the investment bank brought down by the U.S. mortgage crash after 158 years, is set to return to funding home loans through its Aurora Loan Services unit, people familiar with the matter said.
Aurora, which helped make Lehman the top underwriter of mortgage bonds during the housing boom, has started hiring staff for the effort, they said.
The expansion comes even as New York-based Lehman is shrinking through asset sales, 13 months after filing for the biggest bankruptcy in history and selling its North American investment-banking unit to Barclays.
While Aurora will be forced to focus on the government-backed mortgages now accounting for 90 percent of new home loans, rather than the riskier debt it specialized in as recently as two years ago, reduced competition has made that market more profitable.
"For the ones that are left, there's opportunity," said Steve Jacobson, chief executive of Fairway Independent Mortgage in Madison, Wis.
His originations soared 67 percent from a year earlier to $2.6 billion in the first nine months of 2009.
Less competition has boosted per-loan profits, to $1,088 in the first quarter from $657 in 2004, according to Mortgage Bankers Association studies.
Aurora, once a specialist in so-called Alt-A mortgages, may start lending again through other companies and brokers, as well as directly to consumers, according to the people familiar with the plans. The Littleton, Colo., firm has remained a servicer of outstanding mortgages and is owned by Aurora Bank, formerly Lehman Brothers Bank. The bank unit didn't enter bankruptcy protection with its parent.
Subprime mortgages were offered to borrowers with the worst credit records.
Alt-A loans, a step above, were given to borrowers seeking atypical terms, such as a lack of income verification.
Aurora, Lehman and the U.S. Office of Thrift Supervision, the bank's regulator, declined to comment.
Lehman was the largest underwriter of so-called non-agency home-loan securities in 2007, when the market collapsed, selling $67.6 billion of the debt, or 9.6 percent of the total, according to newsletter Inside MBS & ABS. .
I think too many people throw Lehman and WaMu in the same boat. So, the Lehman family has been unjustly damaged by the recent developments in the WaMu case. I dont know how long the Lehman stuff will take to play out. I've put these Lehman to the side and dont plan on doing anything with them for at least a year. This isnt a short-term quick flip. CT's are probably the best thing to flip, the PQs are probably the hardest and the worst
LEHPQ
Table-pounder. $2.80 on the ask. I bought over 3k today at $2.80 already. If you don't own any of these, this may be your last chance to buy in quantity at the ask this cheap. Next MM is parked at $9.70. These are ridiculously cheap. Imagine if these move like the WAMPQs (which I think they will). both have $1000 face value. These are crazy-cheap.
Table-pounder. $2.80 on the ask. I bought over 3k today at $2.80 already. If you don't own any of these, this may be your last chance to buy in quantity at the ask this cheap. Next MM is parked at $9.70. These are ridiculously cheap. Imagine if these move like the WAMPQs (which I think they will). both have $1000 face value. These are crazy-cheap.
Thanks kuwls, just picked up 750 @2.80. i now have 1,000 shares...
if i am not mistaken, this was up to around $4.20 about a month ago ?
Heck, these were trading $6.50 x $8 back in September/October. I loaded up at $2.80 and was gone most of the afternoon. Just got back and saw they closed at $3.50. Cant complain, 25% ROI in a few hours. I'll take it, but wont be flipping these like I did last time. Flipped too many and havent been able to get a fill on the bid for the last month. Was stuck only holding 500 wanting more and never getting filled.
Was very fortunate someone posted on i-hub that the ask was only 2.80 otherwise I probably wouldnt have noticed it. Glad you pounced on this opportunity as well. Now tuck some under your pillow for a few months and lets see if these turn out to be WAMPQs trading at $100 later this year.
:toast:
orange v. apple
Wampq is moving on the prospect of assets > liabilities when all dusts are set and done, and it looks like they might have the case. Lehmans has a long ass list of creditors with an estimate of $ 300 bils or more in claims. Seriously, I won't touch any kind of Lehmans's stocks in my lifetime. For those who is brave enough to touch it, flip as soon as you could, even at a small gain.
Wampq is moving on the prospect of assets > liabilities when all dusts are set and done, and it looks like they might have the case. Lehmans has a long ass list of creditors with an estimate of $ 300 bils or more in claims. Seriously, I won't touch any kind of Lehmans's stocks in my lifetime. For those who is brave enough to touch it, flip as soon as you could, even at a small gain.
Kuwlness,
Thanks very much for starting this new thread. With WAMUQ being so high, I am just going to hold what I have. I needed a new stock to watch but with ten different ways to invest in this one, I am a litttle confused. I looked it over the best I can and I sort of settled on LEHNQ and LEHLQ. Do both of these have the face value of $25? Are either one of them common? I am going to listen to your advice and stay away from common. You advised on WAMUQ thread to buy for .10 or .12 cents and that worked out very well for me. Could you advise where these should be bought? I am buying and would like to flip a few times - would these be good to do that with? Thank you again, plowboy
Thanks very much for starting this new thread. With WAMUQ being so high, I am just going to hold what I have. I needed a new stock to watch but with ten different ways to invest in this one, I am a litttle confused. I looked it over the best I can and I sort of settled on LEHNQ and LEHLQ. Do both of these have the face value of $25? Are either one of them common? I am going to listen to your advice and stay away from common. You advised on WAMUQ thread to buy for .10 or .12 cents and that worked out very well for me. Could you advise where these should be bought? I am buying and would like to flip a few times - would these be good to do that with? Thank you again, plowboy
I'll have to get back to you on the Lehman Capital trusts. There should be a post about 1-2 pages into this thread that has all the Face Values of the Preferreds and Capital Trusts. I dont recommend touching the commons.
Keep in mind the Lehman story is much more speculative than the WaMu story; however, they're both suing JPM and Lehman is suing other banks. I'm not concerned about the Assets < Liabilities at this time as the Lehman Family will run on any positive WaMu news ... which I'm anticipating to be just around the corner.
Clearly big money is flowing into the WaMu Family, and that means someone probably knows something or they're simply manipulating to their advantage. Nonetheless, I believe the Lehman family will run 200-300% on an positive WaMu news. JMO
Lehman Brothers Settles Collateral Claims With JPMorgan
Lehman Brothers Settles Collateral Claims With JPMorgan
http://abcnews.go.com/Business/wireStory?id=9935121
i am thinking big things are coming
Lehman Brothers Settles Collateral Claims With JPMorgan
http://abcnews.go.com/Business/wireStory?id=9935121
i am thinking big things are coming
