Sep 11, 2008 10:00 PM
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San Francisco, 12:44 AM
Wed Feb 10
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Financial giant Lehman Brothers is in trouble thanks to large holdings in the market for subprime mortgage securities. The company's stock is dropping like a rock, and the company is looking at a total of $4 billion in writedowns on bad debt. Meanwhile, edits to the Wikipedia page have shown a volatile but largely inverse relationship with the share price. And before a Reuters report announcing that the firm is up for sale, an editor on Wikipedia briefly included the following factoid — from the future:
On September 12, 2008 Lehman was told by banking regulators it will have to acquired by a solvent entity. Lehman executives have pleaded to delay the bad news by until September 13th, so that they can have a hand who acquires Lehman. Lehman has made a valid case in suggesting two or three buyers to the banking regulators.
The user in question, Ossworks, has a wide range of editing interests, but nothing indicating that they might have inside knowledge, much less psychic powers. Still, the edit correctly predicted the eventuality of, if not the motive behind, the company's "For Sale" sign.
Contact information for this author is not available.
Original material is licensed under a Creative Commons License permitting non-commercial sharing with attribution.
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