says that the Wamu cash settlement auction is on Oct 23.[/quote]
Aye, the auction took place already, but the final settlement is not until next week, on the 20th or 21st. That is when those owing must actually pay up. However, the more I read, the more it seems that so many holders were both sellers and buyers of Lehman CDSs, that the majority of money actually trading hands is closer to the $6 billion range. This may yet be a non-issue, but that remains to be seen.[/quote]
So, what you are saying is that this is either
A.) “a non-issue”
or
B.) “remembered for centuries to come as the day the floor fell out of the financial system”
