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Old 10-10-2008, 07:14 PM   #9
SeekingAlpha
Avalon Senior Member
 
Join Date: Sep 2008
Location: Los Angeles
Posts: 10
Default Re: Lehman Brothers CDS Auction

Here is an article about the result of the Lehman Brothers CDS auction and the news is not good.

http://www.reuters.com/article/marke...38084520081010

If you do the math, that means entities that lost on their Lehman bets are on the hook for about $365.5 billion. Ouch!

Next week will be Wamu on the CDS auction block. I don't see the total bets being as high as Lehman, but we are still looking at multi billion dollar payouts for Wamu as well.
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