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: 207

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

Not the Captain of my Fate

Not the Captain of my Fate Thought I was in love for just a minuteAll the passion and a desire to…See More
13 hours ago
rlionhearted_3 commented on rlionhearted_3's photo
14 hours ago
rlionhearted_3 commented on rlionhearted_3's photo
Thumbnail

Hooray for Russian TV

".Supposedly, Russians have evidence that links Burisma and the recent terror attacks. Burisma for…"
14 hours ago
cheeki kea commented on rlionhearted_3's photo
Thumbnail

True Story

"Well I bet Iran remembers that true story. ~ and there in lies the problem...because they would…"
20 hours ago
cheeki kea commented on rlionhearted_3's photo
Thumbnail

Hooray for Russian TV

" That one is a shocker! even for them. What could have driven and compelled them to dredge up…"
20 hours ago
cheeki kea commented on tjdavis's video
Thumbnail

It Wasn't Fauci: How the Deep State Really Played Trump (mini-doc)

"Excellent video. I hope this one makes it to the features page it sure deserves it. Answers a lot a…"
21 hours ago
cheeki kea favorited tjdavis's video
21 hours ago
tjdavis posted videos
yesterday
Doc Vega posted blog posts
yesterday
tjdavis posted a photo
yesterday
rlionhearted_3 posted photos
yesterday
MAC posted a video
Tuesday
rlionhearted_3 commented on cheeki kea's photo
Thumbnail

who would win a debate?

"It gets waaayy worse. TPTB want to normalize this gross fat bullshit."
Monday
Doc Vega posted photos
Monday
cheeki kea posted photos
Monday
cheeki kea commented on cheeki kea's photo
Monday
cheeki kea commented on tjdavis's video
Thumbnail

How They Will Use Your Doctor to Disarm You

"why of cause Any Mental Health issue would be enough to cause concern and it's known that in…"
Monday
tjdavis posted a video

How They Will Use Your Doctor to Disarm You

Can you imagine your doctor actively trying to disarm you? Well that may not be too far fetched when you consider what is happening inside the medical commu...
Monday
tjdavis favorited Doc Vega's blog post The Modern Day Twilight Zone!
Monday
Doc Vega posted a blog post

The Modern Day Twilight Zone!

Here at the Twilight Zone I can make no apologies for the insanity you are about to see!It must be…See More
Sunday

© 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