Yesterday, Bloomberg News reported that Lehman Brothers Holdings was "sitting on enough uranium cake to make a nuclear bomb as it waits for prices of the commodity to rebound, according to traders and nuclear experts," leading to jokes about "NUKE WA$TE" and "(Literally) Radioactive Assets." Apparently, just before the bank filed for bankruptcy, it started traded in uranium ore and has about 500,000 pounds of uranium-oxide concentrate, aka yellowcake. A source tells the Post, "[Lehman] can't get rid of the ore, because with the possible exception of North Korea, nobody is willing to cough up the price it wants -- because the uranium market has tanked." Another fun yellowcake fact: 500,000 pounds is about enough to make a bomb or to power a nuclear power plant for a year.
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