Lehman Brothers Holdings Inc’s emergency bankruptcy filing wiped out as much as $75 billion of potential value for creditors, The Wall Street Journal reported on Monday, citing an analysis by the bank’s restructuring advisers. A more planned and orderly filing would have allowed Lehman to sell some assets outside of bankruptcy court protection and would have given it time to unwind derivatives positions, according to an analysis.
Wonder what the top execs had in their pockets when they walked away. I suppose it really doesn’t matter as we’re all paying the price for the greed of the financial community.
