Lehman lists total assets of $639 billion -- more than the gross domestic product of Argentina and roughly 10 times the size of Enron when it filed for bankruptcy in 2001. As the company's lawyers wrote in one court filing, "That this case is large and complex is an understatement."
Still, everyone working on the carcass knows that taking too much time to sort things out will result in less money for creditors.
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The story is complex, and the article does not clarify all the complexities, but it informs to a higher level of confusion.
Unless you work in the industry, much of page two might as well be in a foreign language. However, even if--like me--you don't understand some of the financial instruments they talk about, the article manages to make clear how complex this failure is and how wide-ranging the ramifications could be.
OF course the assets of 639 billion is misleading. The net assets are presumably negative. That's why its bankrupt. Those assets are accounts essentially held in trust.
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