Lehmann Bros. What did really happen to the account holders?

G

Godfather

Registered User
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Hi everyone,

these are weird times in which liquidity seems to prevail in order to allow quick movements of savings around.

Did anyone read anything about what really happened to account holders with LB? I know about the Bond holders trying a legal action with the rating agencies but has anyone ever read about anyone who had an account with LB stating they lost their savings/amounts overnight? :confused:

Such subject has been very unclear in books and articles so far... :(

I'd like to understand how similar situations really impact account holders... :confused:

Any clue is welcome :eek:
 
Well I have not paid much attention to what has been going on there, but it is not unusual for winding up procedures to take years to complete, so I'd say that it is a bit early to be expecting an definitive news.

As an example Swissair, the national carrier fell from the skies in 2001 and they are still working on winding it down! Given all the complex financial instruments involved in something like LB I would expect it will take even longer.

Jim.
 
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