Lehman's London bankers who've been picked up by Nomura may be doing very well thank you, but the 750 or so who haven't been aren't doing very well at all. According to an article from Bloomberg yesterday, Lehman's unwanted are only guaranteed to receive 800 in redundancy pay, and must join the queue of creditors if they want any hint of a bonus. It could apparently take years for this to be forthcoming.
Former Lehman COO sells $4m apartment, can't sell $32.5m Hamptons Estate.
"UBS currently expects to report a small profit."
Bailout a done deal, so what next?
"This is the first time we are seeing such a confluence of grape-price inflation and a financial crisis."(Bloomberg)
"We are in talks with the central bank of Narnia, where our hedge fund is listed, to make credit available."
"We're being lambasted by people with degrees in history, by George Osborne and Gordon Brown."
Russell Crowe's plan to end the financial crisis.
(New Zealand Herald)
Why TARP will remove liquidity from the system.
This is what a credit crisis looks like. It's not like a stock market crisis, where the scary plunge of stocks is obvious to all.
UK house prices: the graph. (FT Alphaville)