( - promoted by buhdydharma )
Not too long ago, the United States used to invade nationalize nations banks for a lot less.
Bloomberg News reports that thefailed Wall Street bank, Lehman Brothers, has a stockpile of as much as 500,000 pounds of uranium "yellowcake" that could theoretically is just about enough material needed to make one nuclear bomb.
The difference between this uranium-oxide and Iraq's "yellowcake" is, of course, that Lehman's stockpile is real. It is one of the bankrupt bank's many assets that liquidators have been trying to offload since September.
A supply of 500,000 pounds of yellowcake is just "slightly" less than the amount needed to make one bomb, or fuel one nuclear power reactor for a year, if the latest enrichment technologies are used, said Gennady Pshakin, an Obninsk, Russia-based nonproliferation expert.
The uranium "might fetch $20 million at today's prices of about $40.50 per pound". Once worth $55 a pound, the commodity price of uranium has dropped for five straight months. "More than 43 million pounds of uranium-oxide concentrate, or yellowcake equivalent sold on the spot market last year, more than doubling the 2007 trading volume".
Lehman's "yellowcake" is being stored, in part, in oil-rich Canada. Looking back, which was a bigger threat to the United States in 2003? A neutered Iraq or a "yellowcake" stockpiling Wall Street bank?
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