Almost five years after Lehman Brothers Holding Inc. filed for bankruptcy, managers of the bank’s estate are demanding millions from retirement homes, colleges and hospitals.
Riccardo Banchetti, whose work packaging derivatives took him far at Lehman Brothers, is now making a living unraveling the kind of deals he once developed.
Lehman, which is due to make a third payment to creditors in March, had $5.6 billion in free cash on Nov. 30, an increase of $1.1 billion during the month.
Trading always involves risks, both those you can account for and those you can’t. You can plan for the known risks, but those rarely are what cause panic in the markets.
U.S. Securities and Exchange Commission investigators have concluded their probe of possible financial fraud at Lehman Brothers Holdings Inc. and determined that they will probably not recommend any enforcement action against the firm or its former executives.
