On Tuesday, we might be on the hook for another $100 billion. How you ask? Here are some scary facts:

1. Entities holding  credit default swaps written against Lehman Brothers will be paid on Tuesday. Credit default swaps are essentially life insurance policies for corporate bond holders. If the company goes under, the CDS covers their loss.

Many of the holders of Lehman credit default swaps never owned Lehman bonds – they were just betting Lehman would fold. In fact, some hedge fund bought these credit default swaps, short sold the stock, and spread rumors about impending doom in the media to encourage the collapse of Lehman.

2. Lehman held around $150 billion in debt, but over $360 billion in credit default swaps were written. (Meaning hedge funds were buy insurance policies on debt they did not own.)

3. Who was the counter party on many of these CDS arrangements? AIG, now a subsidiary of the US Government.

4. So on Tuesday we find out how much money the American taxpayer will ship to hedge funds  — their prize for destroying Lehman.