If you had an account on Lehman, what happened

Parent Cafe
1

<p>to the account after the bankrupcy?</p>

2

<p>Your account still there. Every stock, every bond, every penny. The individual brokerage accounts are intact and have been acquired by another broker. Transferring your account to another company of your choice is easy. </p>

<p>It’s the institutions that held Lehman IOU’s that are in distress.</p>

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<p>OK Cool. Thanks.</p>

4

<p>Meanwhile, I just read that Tim Geithner gets the nod for Secretary of the Treasury.</p>

<p>NBC reports NY Fed President Tim Geithner will be announced as Obama’s
pick for Treasury Secretary on Monday.</p>

<p>Pros:</p>

<ul>
<li> 10+ years of experience at Treasury before his stint at the NY
Fed, where he is at the heart of the financial system. Geithner knows
markets. </li>
<li> Undersecretary of International Affairs under Treasury
Secretaries Rubin and Summers. Who better to spearhead international
financial markets regulatory reform and crisis management? </li>
<li> The Senate loves him. When testifying with Bernanke and Paulson,
Geithner was the only one to give clear, direct answers. </li>
</ul>

<p>Cons:</p>

<ul>
<li> Geithner was one of the small group at the Fed that made the
decision to throw Bear Stearns and Lehman to the wolves. In fact, some
say it was his decision to allow Lehman to go bankrupt. Many people see
that as the single worst policy mistake in the government’s handling of
the crisis. (For the record, we don’t. But it’s up there.) </li>
</ul>

<p>Geithner, if he really is the pick, is likely to be approved with no
objection. He has the experience and ability to be a great Treasury
Secretary, particularly if he demonstrates during his Senate testimony
that he has learned from his mistakes. </p>

<p>Chris Low</p>

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<p>Those of us, however, whe had the misfortune to own Lehman stock-- we are left out in the cold…</p>