Author Topic: $270 BILLION due on Lehman CDS (Read 209 times)

Atash Hagmahani · « **on:** October 10, 2008, 09:35:02 PM »

http://climateerinvest.blogspot.com/2008/10/indicated-size-of-payments-due-on.html

I think they will mostly default. No idea what the consequences are, other than breach of trust and possibility of cascading defaults. People bought bonds with ratings that were too high compared to the real quality of the debt.

darwinslair · « **Reply #1 on:** October 11, 2008, 12:21:05 AM »

am I reading that right?

That payout is if they get $.05 to the dollar.

that would mean the actual amount owed was $5.4 trillion.

?????

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