inquiring minds want to know

Baupost Group, Paulson & Co. and Cargill’s hedge fund unit think it’s awfully fishy that the corpse of Lehman Brothers is so eager to sell almost $3 billion in bankruptcy claims to Elliott Management and King Street Capital Management for a little over $1 billion. Especially since CarVal would like to pay almost $1.5 billion for the same claim.

U.S. Bankruptcy Judge James Peck thinks it’s all a little strange, too. But, to use the parlance of our times, tough shit. Read more »

Why is everyone acting like that’s so awkward? Why is Becky turning bright red? Why is Andrew wishing there were a trap door under his chair? Why is the other guest looking at Woody Johnson like “Wow…” Oh, well just excuse the hell out of me. No, I’m sorry, I didn’t realize we couldn’t ask the questions that everyone is thinking. No, no, it’s fine, I’ll just awkwardly change the subject by complimenting Woody’s tie and maybe in the future Dr. J takes his completely reasonable queries elsewhere. Read more »