Once again, Wall Street insiders win and retail investors lose.
The outside advisers handling Lehman Brothers’ bankruptcy – mostly bankers and lawyers – have made over $1.4 billion for their services since Lehman Brothers went bankrupt three years ago. If you’re a Wall Street insider, Lehman Brothers, which is bankrupt and out-of-business, is a fantastic place to work.
Meanwhile, investors holding Lehman Brothers structured notes are slated to get back only about one fifth of the money they invested in the notes when the Lehman Brothers bankruptcy litigation finally winds up. Financial advisers at UBS and other brokerage firms peddled Lehman Brothers structured notes with great-sounding names like “100% principal protected” notes and “Return Optimization” notes. But for investors getting back only twenty cents on the dollar, their principal wasn’t protected and their returns weren’t optimized.
Of course, if you’re a Wall Street insider working on the Lehman Brothers bankruptcy, your principal is well-protected and your returns are fully-optimized.
If UBS sold you one of these notes, or if you’ve lost money in any Lehman Brothers note, give us a call. We may be able to help.
Here’s a list of some of the names of Lehman Brothers notes sold by UBS – –