Lehman and the Exploding Hedge
According to Susanne Craig, Lehman CFO Erin Callan "receives a slimmer daily financial summary than her predecessors, relying more on data from the trading-floor contacts built during her 13-year Lehman career". I wonder when and how she found out about this?
...Lehman Brothers lost about $600m on a single hedging position in the second quarter, adding to what is expected to be a larger than anticipated loss that may lead the bank to raise more capital...






