What's these bubble-like substance inside the lens

Please someone tell me what's these bubble-looking dots as seen inside this glass? Thanks.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=15247&item=3808744261&rd=1

Aaron,

Appears to be an excellent case of "Schneideritis", the bubbling or flaking of the black coating inside the lens cells common to Schneider lenses. I have one Schneider lens with Schneideritis, but not nearly so prominent as this one. Most people say it does not affect anything but resale value.

Steve

I have some Schneider lenses with this ailment. I've heard that Scheider claims it doesn't affect image quality.

But, one wonders.

I should think that it could result in internal reflections, which will ultimately raise flare levels. The one to which you point is a fairly extreme case. I have a lens with a moderate amount of the problem, and it's taken some excellent images.

Thanks for responding. Appreciate it.