SuperMegaMonkey: Talk about 'toxic assets' (Bwah ha ha ha!... *ahem*)

Home

Marvel Comics Timeline

Lead Singer Syndrome

CD on sale!

Comics
D&D
Music
Events
Banner Archive

Recent Posts

Search Archives

« Y The Last Ant-Man | Main | Someone rolled a 1 »

Lehman Brothers Holdings Inc. is sitting on enough uranium cake to make a nuclear bomb as it waits for prices of the commodity to rebound, according to traders and nuclear experts.
The bankrupt bank, in the throes of paying off creditors, acquired uranium cake "under a matured commodities contract" and plans to sell it when the market improves "to realize the best prices," Chief Executive Officer Bryan Marsal said.

Lehman, once the fourth-largest investment bank, has an estimated $200 billion in unsecured liabilities left to pay. The uranium, which may be as much as 500,000 pounds, might fetch $20 million at today's prices of about $40.50 per pound, said traders who asked not to be named because of the confidential nature of the data. Marsal said the traders' estimate of Lehman's uranium holding is "reasonable," while declining to be more specific.

Uranium has dropped for five straight months from $55 a pound on Dec. 1 on concerns that countries including China and India would delay nuclear power projects because of the global economic crisis, and because Lehman might dump its radioactive material on the market, the traders said.

How soon before Lehman gets desperate and sells their uranium to pirates?!?

Posted by fnord12 on April 15, 2009 11:27 AM in