... on the good ship Titanic. ;-)
While bondholders will lose as much as 90% of their investment, one entity got all of its money back -- the Federal Reserve. At one time it was owed about $63 billion by Lehman, according to Mr. Marsal. But a postbankruptcy sale of some Lehman assets to Barclays PLC meant that all of the debt to the government was repaid.