Lehman Brothers’ toxic legacy

It seems that when Warren Buffett referred to derivatives as “financial weapons of mass destruction”, he was being more literal than he intended. The Times of India reports that failed investment bank Lehman Brothers holds a nuclear stockpile of uranium, from a former commodities contract undertaken before it collapsed in September 2008.

The best take on this comes from the New York Post, “It turns out we were looking in the wrong place for weapons of mass destruction…They were not in Iraq. They were in Lehman Brothers’ portfolio.”

It seems Mr. Bush wasted all that time scouring West Asia when all he had to do was hop over to Wall Street and ply some chatty investment bankers with copious amounts of expensive alcohol; the truth would have come out sooner or later.

If Saddam Hussein is still alive, as some speculate, he must be falling off the chair laughing.