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You Can't make This Up

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  • You Can't make This Up

    Lehman Brothers sitting on a stockpile of uranium 'yellowcake'

    Lehman's nuclear stockpile is a hangover from a trading contract undertaken before the Wall Street bank collapsed last year

    The rump of the bankrupt bank Lehman Brothers is sitting on a stockpile of 450,000 lb of uranium "yellowcake" which could be used to power a nuclear reactor or, theoretically, to make a bomb.

    Lehman's potentially explosive asset is a hangover from a commodities trading contract undertaken before the Wall Street bank went bust in September. The substance, yellowcake, is a solid form of mined uranium which is yet to be enriched.

    Liquidators have been trying to offload the stuff for months. But the price of uranium has been dropping steadily, leaving Lehman's yellowcake languishing in a variety of secure storage facilities, some of which are in Canada.

    Bryan Marshal, Lehman's chief executive, who was appointed to salvage value for creditors, told Bloomberg News that the stockpile, which is worth about $18m, would be sold responsibly.

    "We plan on gradually selling this material over the next two years," he said. "We are not dumping this on the market and have no fire-sale mentality."

    Saddam should have lived long enough to see this one :eek:

  • #2
    Re: You Can't make This Up

    Well, if we find out that Goldman Sachs is buying aluminum tubes I think that makes a clear case we should bomb Wall Street

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    • #3
      Re: You Can't make This Up

      Originally posted by $#* View Post
      Well, if we find out that Goldman Sachs is buying aluminum tubes I think that makes a clear case we should bomb Wall Street
      and Dave Chappell can pilot the drone ;)

      Comment


      • #4
        Re: You Can't make This Up

        Originally posted by $#* View Post
        Well, if we find out that Goldman Sachs is buying aluminum tubes I think that makes a clear case we should bomb Wall Street
        I bet they have/had some aluminum commodities positions. Let's ask Dick Cheney if that's sufficient. One needs to be pre-emptive in situations like this.
        "...the western financial system has already failed. The failure has just not yet been realized, while the system remains confident that it is still alive." Jesse

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        • #5
          Re: You Can't make This Up

          Originally posted by $#* View Post
          Well, if we find out that Goldman Sachs is buying aluminum tubes I think that makes a clear case we should bomb Wall Street
          Well played. LOL.

          Comment


          • #6
            Re: You Can't make This Up

            Originally posted by don View Post
            and Dave Chappell can pilot the drone ;)
            You beat me to it Don. I just watched that video this morning.

            Comment


            • #7
              Re: You Can't make This Up

              Originally posted by don View Post
              Lehman Brothers sitting on a stockpile of uranium 'yellowcake'
              Adds a new meaning to the phrase, let them eat cake.

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