Lehman Brothers sitting on a stockpile of uranium 'yellowcake'

[jpak]

http://www.guardian.co.uk/business/2009/apr/15/lehmanbrothers-nuclear-weapons

The rump of the bankrupt bank Lehman Brothers is sitting on a stockpile of 450,000 lb of uranium "yellowcake" which could be used to power a nuclear reactor or, theoretically, to make a bomb.

Lehman's potentially explosive asset is a hangover from a commodities trading contract undertaken before the Wall Street bank went bust in September. The substance, yellowcake, is a solid form of mined uranium which is yet to be enriched.

Liquidators have been trying to offload the stuff for months. But the price of uranium has been dropping steadily, leaving Lehman's yellowcake languishing in a variety of secure storage facilities, some of which are in Canada.

Bryan Marshal, Lehman's chief executive, who was appointed to salvage value for creditors, told Bloomberg News that the stockpile, which is worth about $18m, would be sold responsibly.

<more>

[Dennis Donovan]

1. Wow - how did a private commodities trading firm end up with yellowcake?

:crazy:

[xchrom]

2. ...

:wtf:

[Turbineguy]

3. "...responsibly..."

would that be the same as "anybody with money"?

[Skink]

4. They were planning a Coup.

[htuttle]

5. What sort of zany commodities trade would involve taking delivery of the product?

Not to mention it being 450,000 pounds of uranium.

Mark me surprised...and that doesn't happen very often nowadays.

[excess_3]

9. ther is no uranium 'futures' market

or, at least, not one until recently

what else could LB do?

[JohnWxy]

6. yes, Toxic assets.

[DCKit]

7. So, like oil, corn, rice, flour, veggie oil, copper, silicon, etc..., that market was all hype too?

Who could have seen THAT coming? Oh, we did. Well, those of us who weren't defending the commodities traders. "Peak Uranium" anyone?

The real kicker - they probably did it to themselves.

Here piggy, piggy.

[NNadir]

8. You would have to be rather, um, Dick Cheney like to assume that it "could" be made to use a bomb.

Generally the people who lap this stupid ass crap up - the kind that set humanity off on lemming like paranoia/murder missions - are precisely those who assume that everyone is as ignorant and as contemptuous of science as they are themselves.

Here's a clue for rabbit brains who fear parts of the periodic table because they are poorly educated: There are between 3 and 5 billion tons of uranium on the planet.

I can't wait for some dumb ass anti-nuke to argue for invading Canada for this story, although predictably, as there are ZERO anti-nukes who are not apologists for the dangerous fossil fuel industry - the purpose will be to steal Canada's oil and natural gas and coal.

[jpak]

10. LOL!!!11111

:crazy:

:rofl: