Could be more. The real estate market rebounded from a time when they really thought it could collapse completely. And remember that little comment the Lehman layer said the assets could be something like (these are my numbers from memory) $500B to $2.8T but that they did not take the time to assess the assets because it would take too long and the creditors needed their money.
This is what Mr. Iron is saying in the HUB;
it has been 6 years you know. If you trade on 6 year old info - Good Luck With That My Friend.
Here is my response;
I really don't know if I have to argue on your level. ( sorry to say).
What you are speculating in your statement is a change within six years of Banktuptcy is in the difference of Hundreds of Billions of dollars. I have no idea if you really have the mental grasp of this amount that is more than the entire economy of a small country. You are probably thinking that they found these when the company CEO is doing adventure like in the movie when they found a mountain of gold treasure in a secret dungeon or something.
What is it mr. Iron?.. Admitted that you are incapable of learning to read and understand the Balance Sheet?
Anyone can cut and paste this to the HuB or just key him find out.
Just because our Trustee is included you are assuming it is about Ct.s... Is that a very smart way for you to view it? You think Our Trustee handles only one client?
Commented in this on the gmb. This docket is not for us but have a few good sections confirming the direction we think this will go.......btw, 10k lhhmq is mine today at .30......go figure....devil
If you google this:
MKP VELA CBO CREDIT DEFAULT SWAP AGREEMENT
you get this which lists cusips that are not CT cusips:
MKP Vela CBO Ltd/LLC - Notice of Event of Default
MKP Vela CBO Ltd/LLC
06 May 2008
The Bank of New York Trust Company, National Association
MKP VELA CBO, LTD.
MKP VELA CBO, LLC
NOTICE OF EVENT OF DEFAULT
NOTE: THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE
REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT NOTES. IF APPLICABLE, ALL
DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE
REQUESTED TO EXPEDITE RE-TRANSMITTAL TO BENEFICIAL OWNERS OF THE NOTES IN A
May 2, 2008
To: The Noteholders and Preference Shareholders described as:
Reg. S. Rule 144A
Class CUSIP * ISIN* Common Code CUSIP ISIN* Common Code
Class A Notes G6178H AA 6 USG6178HAA61 027416772 55313H AA 6 US55313HAA68 027416616
Class B Notes G6178H AB 4 USG6178HAB45 027416829 55313H AB 4 US55313HAB42 027416624
Class C Notes G6178H AC 2 USG6178HAC28 027416861 55313H AC 2 US55313HAC25 027416659
Class D Notes G6178H AD 0 USG6178HAD01 027416896 55313H AD 0 US55313HAD08 027416675
Class X-1 Notes G6178H AE 8 USG6178HAE83 027416918 55313H AE 8 US55313HAE80 027416691
Class X-2 Notes G6178H AF 5 USG6178HAF58 027416942 55313H AF 5 US55313HAF55 027416730
Preference Shares G61779 10 7 KYG617791077 027441017 5
I would just like to know that we. CTs are included in the settlement agreement. It's possible we are not. Just saying.