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Wednesday, August 27th, 2008

Time Event
11:00a
Tooth Fairy has agreed to acquire Lehman
http://www.efinancialnews.com/homepage/content/2451608513

Read more...Collapse )In related news, Lehman has agreed to sell all of its level III capital, including CDOs, ABSs, pet rocks, baseball cards, slightly used condoms, and credit default swaps written by MBIA and Ambac. Lehman's level III capital will be acquired for 150% of its face value by Tinkerbell, who will carry it off to Neverland to be fed to a crocodile. Lehman is financing 90% of the acquisition at an interest rate that has not been announced; Tinkerbell's up-front payment consists of a handful of pixie dust, three crickets, and a bullfrog.Read more...Collapse )

cf http://www.bloomberg.com/apps/news?pid=20601087&sid=a.m1gBb6Zlzg&refer=home


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