In my humble opinion at least:

One Man's Counterparty Credit Risk Hedge Is Another Man's Directional Bet

Equity Private over at Dealbreaker channels Tyler Cowen. Bess Levin and the Dealbreaker crew are making my day:

Lehman Brothers Holdings Inc. has negotiated the return of thousands of Lehman-logoed knickknacks that were mistakenly transferred to Barclays Plc through the sale of the bankrupt securities firm's brokerage unit.

Tote bags, umbrellas, stress balls, Tiffany paperweights and other items now stored in closets and warehouses from New York to Chicago will be returned to Lehman and sold to pay creditors, according to a court filing yesterday.

Follow Paddy Hirsch at @paddyhirsch