Lehman bankruptcy leads to market tizzy, while Pickens sues and firm sells R3 stake

Fri Oct 10, 2008

Banks, hedge funds and others foolish enough to have insured the debt of now-bankrupt Lehman Brothers by selling credit default swaps must now pay the piper. Today is the deadline for these insurers to make whole the counterparties to those transactions, and early results from an auction of the swaps indicates the cost will be at least 90.25 cents on the dollar for each bond insured.

The auction is expected to be one...

ISSN: 2151-1845 / CDC10004H


The full contents of this article are available to active AR subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to AR.


Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now

Popular Searches on HFI