Just wondering if this may be over simplifying the issue, but the Lehman CDS payments where due yesterday.
I can't find any follow up news on the payments being made or who's been left holding the "junk" or who's holding the redemptions.
Has anyone heard anything of payments being made and from whom? Seems all suspiciously quiet. Is this simply a case of companies writing cheques, or are there further complications?
This has been hovering over the market for some time, but when payout day arrives, I can't find a single article. Perhaps my understanding of this is all wrong.