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Lehman Brothers' Nuclear Stockpile

Holding onto "bomb's worth" of uranium.

Here's a great opportunity for aspiring tyrants: Lehman Brothers is sitting on a massive stash of uranium cake—as much as 500,000 pounds—until the market stabilizes. The main ingredient in nuclear bombs just isn't fetching as much money as it used to: December of last year, it sold for $55 a pound, now it's down to $40 a pound. Bargain hunters take notice: Lehman's collection of cake is enough to build a bomb or fuel a nuclear reactor for one year. The uranium is worth around $20 million at present, a paltry sum when compared to the $200 billion debt the bank still has to pay.

Read it at Bloomberg

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