[IWE] Lawsuits begin

Jay Mehaffey iwe@warhead.org.uk
Mon, 6 Oct 2008 08:07:40 -0700 (PDT)


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http://www.bloomberg.com/apps/news?pid=20601109&sid=aOBEg1wAitck&refer=exclusive
>Lehman Brothers Holdings Inc.'s main
lender and clearing agent, JPMorgan Chase & Co.,
>caused the
liquidity crisis that led to Lehman's collapse, creditors said.


>JPMorgan had more than $17 billion of Lehman's cash and
securities three days before the
>investment bank filed the
biggest bankruptcy in history on Sept. 15, the creditors
>committee said in a filing Oct. 2 in bankruptcy court in
Manhattan. Denying Lehman
>access to the assets on Sept. 12, the
bank ``froze'' Lehman's account, the creditors claimed. 
Lawsuits related to the crash will probably take decades to figure out. Not only has there
been a lot of unregulated market activity and legally shady dealings, but a lot of what the
government has done recently is in legal gray areas.

Jay


      
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<html><head><style type="text/css"><!-- DIV {margin:0px;} --></style></head><body><div style="font-family:times new roman,new york,times,serif;font-size:12pt"><div>http://www.bloomberg.com/apps/news?pid=20601109&amp;sid=aOBEg1wAitck&amp;refer=exclusive<br><a href="http://www.bloomberg.com/apps/quote?ticker=LEH%3AUS" onmouseover="return escape( popwQuoteShort( this, 'LEH:US' ))">&gt;Lehman Brothers Holdings Inc.</a>'s main
lender and clearing agent, <a href="http://www.bloomberg.com/apps/quote?ticker=JPM%3AUS" onmouseover="return escape( popwQuoteShort( this, 'JPM:US' ))">JPMorgan Chase &amp; Co.</a>,<br>&gt;caused the
liquidity crisis that led to Lehman's collapse, creditors said.<br><br>     
       <p>&gt;JPMorgan had more than $17 billion of Lehman's cash and
securities three days before the</p><p>&gt;investment bank filed the
biggest bankruptcy in history on Sept. 15, the creditors</p><p>&gt;committee said in a filing Oct. 2 in bankruptcy court in
Manhattan. Denying Lehman</p><p>&gt;access to the assets on Sept. 12, the
bank ``froze'' Lehman's account, the creditors claimed.     </p><br>Lawsuits related to the crash will probably take decades to figure out. Not only has there<br>been a lot of unregulated market activity and legally shady dealings, but a lot of what the<br>government has done recently is in legal gray areas.<br><br>Jay<br><br></div></div><br>



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