by flory
Per The Paper of Record - the latest victim of Big Shitpile is Lehman Brothers. 168 years of good honest American laissez faire republicanism going down the tubes. But hark! They can fuck the little guy yet one more time before going into that good night.
The Securities Investor Protection Corporation would handle the liquidation of such brokerages, and bankruptcy lawyers say that customers are likely to receive their holdings back.
What does that that 'are likely' mean? My guess is that if you're CalPers or the Florida State Retirement System and you've got some holdings at Lehman, you'll probably get your account settled at par. If you're Jill Smith? Sucks to be you. If Lehman runs out of holdings -- you're most probably fucked. So sorry.
