Why is Lehman Bros meeting tomorrow important?

[lib2DaBone]

I heard on Blomberg something about Lehman Bros meeting tomorrow at 2 pm VERY important because of several trillion dollars in CDO's coming due? Won't the $850 Billion we just gave away cover part of this? (I can't find the original Blomberg article)

[lostnfound]

1. Tomorrow there will be some decisions made about how much those CDO's will be good for..

I.e., how many cents on the dollar. The Fannie Mae & Freddie Mac went for 92 cents to 99 cents on the dollar, but maybe Lehman's CDS's will be good for only 10 cents on the dollar.. I don't know if it has been disclosed how much the Lehman CDO's are in total, either.

[lib2DaBone]

2. Thanks..Im just learning about these CDO's

The talking heads seemed very afraid about tomorrow...maybe because of the shear size of the CDO's. Don't kow if anyone saw UK's Gordon Brown comment to Bush tonight. Brown said he was coming to the G7 Meeting, and to paraphrase, basically, said Bush is on his own and the UK is not going to bail out Bush anymore at the peril of the UK. (jaw dropping open).

[Roland99]

3. Try this >>>>>>

http://bigpicture.typepad.com/comments/2008/10/lehman-cds-unwi.html

[lib2DaBone]

4. Yes, that explains it. Thanks. So Friday will be interesting.