Rumors from Dubai regarding Lehman's Oil trades...using fed open window funds to speculate on oil (long)...on pre-knowledge regarding Israel making threats and practice bombing runs toward Iran.
Arabs got wind of this and shorted it hard over the 4th weekend causing Lehman to get caught "holding long" over the weekend and getting massive margin calls. Fed closed the window to Lehman and now banks pulling lines, deep pockets pulling funds and fellow IBs refusing to do business.
Rumors from Dubai regarding Lehman's Oil trades...using fed open...
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Last
8,193.9 |
Change
-11.500(0.14%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,205.4 | 8,223.5 | 8,188.0 |
| XJO (ASX) Chart |