Lehman investors to recover 100pc of losses in win by PPB

Liquidator PPB Advisory has confirmed to The Australian that the 300 councils and charities that are estimated to have lost $250 million in investments on the bank’s complex financial products – called collateralised debt obligations, or CDOs – were now likely to receive 100 cents in the dollar as part of their settlement with the Australian arm of Lehman’s.

Views: 210

Reply to This

Replies to This Discussion

Deal struck !

The Aussie councils will celebrate their win by blowing the recovered investment funds on lavish "fact finding mission" holidays, spend it on anything but local infrastructure - you should see the poor excuse for a dirt road I must navigate along leading into the town I'm making my new home .... nearly need a new front suspension every few months ! .... and this town is only 95 miles as the bird flies, from Australia's largest city, Sydney. Local councils are quick to grab your money, but not so generous when civilization is at stake. Investing in derivatives seems to be their new "civilization", stuff the local tax payer !

Were you involved with them Peter? I noticed you posting on them before.

Quite the opposite James, I've got more sense than to gamble my money in wild and woolly investments. In fact, I though govts', local or otherwise, were disallowed from investing, but apparently they are allowed. It'll teach em a lesson though, hope they learned all about derivatives and debt swaps, but being the dumb asses they are, they'll probably go straight back into it, can't fix stupid! Now I'm wondering how much of that $250 mil will be for legal fees and incidentals, some law firm will make a quick buck given the speed of settlement

In the greater scheme of things $250 mil is not much but if my local council had just $8 mil of that 250, the residents of my new location might have a half way decent road to drive on without the clouds of powdery dust and the necessity to replace shock absorbers often. Like I said, they're quick enough to grab your taxes but gettin' anything out of them only turns into a dog fight 

RSS

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post

A Prelude to WW III ? It Seems There We Are Trailblazing Idiocy into More Blood and Destruction!

They're rolling out the 25th Amendment trying to stop Joe Biden from insanely thrusting the US in a…See More
4 hours ago
Less Prone posted a video

Chris Langan - The Interview THEY Didn't Want You To See - CTMU [Full Version; Timestamps]

DW Description: Chris Langan is known to have the highest IQ in the world, somewhere between 195 and 210. To give you an idea of what this means, the average...
yesterday
Doc Vega posted a blog post

RFK Jr. Appoinment Rocks the World of the Federal Health Agncies and The Big Pharma Profits!

The Appointment by Trump as Secretary of HHS has sent shockwaves through the federal government…See More
Tuesday
tjdavis posted a video

Somewhere in California.

Tom Waites and Iggy Pop meet in a midnight diner in Jim Jarmusch's 2003 film Coffee and Cigarettes.
Tuesday
cheeki kea commented on cheeki kea's photo
Thumbnail

1 possible 1

"It's possible, but less likely. said the cat."
Monday
cheeki kea posted a photo
Monday
tjdavis posted a blog post
Monday
Tori Kovach commented on cheeki kea's photo
Thumbnail

You are wrong, all of you.

"BECAUSE TARIFFS WILL PUT MONEY IN YOUR POCKETS!"
Monday
Tori Kovach posted photos
Monday
Doc Vega posted a blog post

Whatever Happened?

Whatever Happened?  The unsung heroes will go about their dayRegardless of the welcome they've…See More
Sunday
Doc Vega commented on Doc Vega's blog post A Requiem for the Mass Corruption of the Federal Government
"cheeki kea Nice work! Thank you! "
Sunday
cheeki kea commented on Doc Vega's blog post A Requiem for the Mass Corruption of the Federal Government
"Chin up folks, once the low hanging fruit gets picked off a clearer view will reveal the higher…"
Sunday
Doc Vega's 4 blog posts were featured
Saturday
tjdavis's blog post was featured
Saturday
cheeki kea commented on cheeki kea's blog post Replicon Started in Tokyo October 08, 2024
"Your right LP it's insane for sure and hopefully improbable, keeping an open mind. Checking…"
Saturday
rlionhearted_3 commented on tjdavis's blog post Bill Gates Deleted Documentary
Saturday
rlionhearted_3 commented on tjdavis's blog post Bill Gates Deleted Documentary
"The white dude in the center is Bill Gates!!! "
Saturday
Less Prone favorited tjdavis's blog post Bill Gates Deleted Documentary
Nov 15
Less Prone commented on tjdavis's blog post Bill Gates Deleted Documentary
"How can this scoundrel walk free? Because he's just one of the many similar ones."
Nov 15
Less Prone favorited Doc Vega's blog post What Will happen When Robot Brides Replace Human Marriage?
Nov 15

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted