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Lehman: Like George Bailey --- Without the Bank or the Ethics

paul.kedrosky.com » 2008 » October » 11th » Lehman: Like George Bailey --- Without the Bank or the Ethics

There is a truly numbing piece up on BusinessWeek's site about the mess that Lehman made via taking counterparty collateral obtained in one swap and using it as collateral in a myriad more. Post-bankruptcy, that has led to a sort of interplanetary Where's Waldo?, with counterparties hunting frantically for their posted collateral -- is it here at JPM? at Barclay's? yoo-hoo, collateral! -- … Continue Reading »

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