[IP] Re: Credit Default Swap (CDS) - Lehman Final Results In

Begin forwarded message:

From: Steve Rayson <steverayson@hotmail.com>

Date: October 22, 2008 5:58:32 PM EDT

Subject: RE: [IP] Credit Default Swap (CDS) - Lehman Final Results In

http://dealbook.blogs.nytimes.com/2008/10/22/lehman-debt-swaps-settled-for-52-billion/

Sellers of insurance on Lehman Brothers debt made net payments of $5.2 billion to settle an estimated $400 billion or more in credit default swaps, the Depository Trust and Clearing Corporation said Wednesday.

As predicted, the net payments were a fraction of the $400 billion. Its interesting to me that despite the fact that the Depository Trust and Clearing Corporation said this was going to happen, there was still lots of fear last week that the number was going to be in the 100's of billions.

-Steve

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