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"Please be advised that current margin requirements for Lehman Brothers Holdings Inc (LEH) are currently under review by our Risk Management group and will likely be increased shortly. Please take appropriate actions and manage your risk accordingly."

 Risk management is expecting a lot of downward pressure and the word is at least a few institutional client have left the bank. I am sure Lehman is probably hitting the Fed fund window. I wonder what the mentality of their counterparties are. The issue is not whether you think they are sound or not, but whether it is worth the risk to find out. I know I wouldn't take the chance, despite the fact the risk is not extravagant, it is still more than my tiny operations can afford.