Those banks apparently also got nailed

http://georgewashington2.blogspot.com/2008/10/who-got-nailed-paying-for-lehmans.html

http://www.globalresearch.ca/index.php?context=va&aid=10535 

We know that issuers of Lehman's credit default swaps will have to pay out hundreds of billions of dollars. But who will actually have to pay that out?

The Times of London writes today:

"About 350 banks and investors are thought to have insured an estimated $400 billion of Lehman’s debt through complex derivatives, known as credit default swaps. These include Pacific Investment Management, the manager of the world’s largest bond fund, Citadel, the US hedge fund, and American International Group, the insurer that the US Government recently bailed out with two loans totalling about $123 billion."