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Old 10-10-2008, 07:14 PM   #9
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.

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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