Toxic asset datapoint of the day, Lehman edition

By Felix Salmon
April 14, 2009

We knew there was a lot of nuclear waste on Lehman’s balance sheet. But we didn’t know that was literally true:

Lehman Brothers Holdings Inc. is sitting on enough uranium cake to make a nuclear bomb as it waits for prices of the commodity to rebound, according to traders and nuclear experts.

At least uranium can in theory be used as a force for good, in nuclear power stations. Which is more than can be said for CDO-squareds.

(Via Wiesenthal)

2 comments

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This isn’t news, Salmon. Lehman’s U position has been common knowledge among the rockbangers for months.

Maybe we need a new mezzanine term like MSB (main stream blogs) to slide between MSM and specialist bloggers.

Posted by otto | Report as abusive

I just read an article in the Sydney Morning Herald, it says that China is building 30 nuclear powerplants and that Chinese companies are lining up to invest in Australian uranium mining and exploration companies.

Analysts warn China’s nuclear expansion will not succeed unless it secures enough uranium. Reason enough to invest in uranium, as demand and price most probably skyrocket in the near future.