How to get a cheque of $450 million, 9/15 when you file for bancruptcy CH.11 ?

by SOLARLIFE | September 17, 2008 at 07:02 am

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How to get a cheque of $450 million, 9/15 when you file for bancruptcy chapter 11 ?

Simpson bankers at work 9/15: Stupid german bank pays $450 million to Lehman Bros, money gone

Great bank experts at work

The german KfW bank CEO Ulrich Schroder has no explanation. Why did his bank transfer Sept 9/15 300 million Euro / $450 mio to the Lehman bros account ? They knew Lehman filed for bancruptcy protection chapter 11 in the Morning. So the money tranferred had gone.

The KfW bank was involved in security Swaps with Lehman. Now KfW saying the swap transfer was an error, we want our money back. Does not work with chapter 11. German politicians say it is incredible that bankers wasted 300 million Euro.

Explainer: The chapter 11 US-style is not common in europe, KfW is a government bank,so...why thinking, it is nobodys money, or ?

A student commented: I payed back my student loan to KfW bank, now my money is lost in the US, why ?

Kfw is financing Solar photovoltaic rooftop power for german home owners. What at all the government owned bank had to speculate on US markets, nobody wants to explain.

BERLIN, Sept 17 (Reuters) - Germany's Finance Ministry said it is astonished that state lender KfW transferred 300 million euros ($426 million) to Lehman Brothers (LEH.P: Quote, Profile, Research, Stock Buzz) on the day the U.S. bank filed for bankruptcy protection.

"What we have had to read today is astonishing and exasperating," Finance Ministry spokesman Torsten Albig said on Wednesday when asked about reports of the transfer.