Thursday, October 16, 2008

Got you in a headlock ...

141,000 nights

... London-style bankruptcy for hedge fund clients of Lehman is worse than a headlock, it seems; or else, it is one that goes on ... for years.

``Throwing more bodies at this doesn't solve the problem,'' said Pearson, who said he has a team of ``some dozens,'' including Lehman staff, sorting through the prime-brokerage assets, and 141,000 failed trades.


Meanwhile, CNBC reports that various blocks of collateral from busted hedge funds may be up for sale, depressing this or that set of prices.

I'll add this stage of the liquidation and deleveraging to the chronology.

Also, this: "Investors pulled at least $43bn from US hedge funds in September as market turmoil led to unprecedented withdrawals, an analysis by" ... Trimtabs." Still, that is not even 10% of estimated industry assets ... but that's still a lot to dump on some markets.


Last: "... former Neuberger CEO Jeffrey Lane filed an objection in bankruptcy court Tuesday"

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