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LEHMAN Brothers is sitting on enough uranium cake to make a nuclear bomb, according to reports.
Traders and nuclear experts have said the beleaguered and former investment bank is holding the uranium cake as it waits for prices of the commodity to rebound, Bloomberg reports.
Still in the throes of paying off creditors, the bankrupt bank is said to have acquired the items "under a matured commodities contract" and plans to sell it when the market improves, chief executive officer Bryan Marsal said.
Lehman, once the fourth-largest investment bank, still has an estimated $200 billion in unsecured liabilities left to pay. What is expected to be as much as 500,000 pounds of uranium might fetch $20 million at today's prices, traders told Bloomberg.