and it looks as though their plan to see Lehmans sold off fell through. Consequently; JPMorgan Gave Lehman $138 Billion After Bankruptcy (Update1) By Tiffany Kary and Chris Scinta Sept. 16 (Bloomberg) -- Lehman Brothers Holdings Inc., the securities firm that filed the biggest bankruptcy in history yesterday, was advanced $138 billion this week by JPMorgan Chase & Co. to settle Lehman trades and keep financial markets stable, according to a court filing. One advance of $87 billion was made on Sept. 15 after the pre-dawn filing, and another of $51 billion was made the following day, according to a bankruptcy court documents posted today. Both were made to settle securities transactions with customers of Lehman and its clearance parties, the filings said. The advances were necessary ``to avoid a disruption of the financial markets,'' Lehman said in the filing. The first advance was repaid by the Federal Reserve Bank of New York, Lehman said. The bank didn't say if the second amount was repaid. Both advances were ``guaranteed by Lehman'' through collateral of the firm's holding company, the filing said. The advances were made at the request of Lehman and the Federal Reserve, according to the filing. Lehman disclosed the advances in a motion seeking court permission to give JPMorgan's claims special status in its attempts to recover any advances. Lehman said that if that status isn't granted, JPMorgan may not be able to make future advances needed to clear and settle trades. ``The granting of the relief requested is in the best interests of the estate and its stakeholders and the public markets,'' Lehman said, adding the advances would be ``essential to Lehman's customers.'' JPMorgan may make future advances at its sole discretion, all of which would be guaranteed by Lehman under its agreement to pledge collateral, Lehman said. JPMorgan said in a statement in court documents that it has had a clearing agreement with Lehman since June 2000, and had pledged its collateral under an Aug. 26 guarantee. JPMorgan lawyer Harold Novikoff and JPMorgan spokesman Brian Marchiony didn't immediately return calls for comment. The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan). To contact the reporter on this story: Christopher Scinta in New York bankruptcy court at csinta@bloomberg.net and; Tiffany Kary in New York bankruptcy court at tkary@bloomberg.net. Last Updated: September 16, 2008 15:09 EDT AND thus put a little monkey wrench in out very near term prospects for some real good news and setting a new up turn with sustained Momentum. Thus just a little more time Patiently waiting! Old Joe