"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Sunday, September 14, 2008

Lehman - let's not forget the good times...

Forbes - December 1th 2007 Lehman Brothers reported total compensation of $9.5 billion for 2007 , a 9.5 % increase over last year, and bonuses of $5.7 billion. CEO Richard Fuld Jr. received a $35 million stock bonus. According to Forbes, Fuld’s five-year compensation total, excluding this latest bonus, is nearly $312 million.
Five other top executives at Lehman received a total of $58 million in stock, according to separate filings. President Joe Gregory was awarded $29 million and Vice Chairman Thomas Russo was given $9 million.

Times Online - December 14, 2006

Lehman Brothers in $8.7 billion bonus payout
Tom Bawden, New York

Lehman Brothers said it would pay its average member of staff $335,441 (£170,933) this year as it reported a record fourth-quarter profit of $1.0 billion, capping its most profitable year ever.
The US investment bank is paying its 25,936 staff a total of $8.7 billion in salary, bonuses and other benefits for 2006 on the back of a 23 % rise in net income to a record $4.0 billion.

Mind you those shares won't be worth a lot in the morning.

Not forgetting this lady who reached the door marked Exit just in time ...


Anonymous said...

who will be the next to fall in the battle of the banks??too many banks not enough money a tussle for supremacy is going on.Consolidation!

here is the next institution to fall.

American International Group, Inc. (AIG)


Anonymous said...

lehmann is worth 44cent in Frankfurt

How the stock market works
Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each.

The villagers seeing that there were many monkeys around, went out to the forest, and started catching them. The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started Catching monkeys again.

Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at $50 ! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.

In the absence of the man, the assistant told the villagers. "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each."

The villagers rounded up all their savings and bought all the monkeys. Then they never saw the man nor his assistant again, only monkeys everywhere!

Anonymous said...

"Tears and hugs as 5,000 bankers in Britain told to clear their desks after Lehman falls"

"By Nicola Boden Last updated at 12:48 PM on 15th September 2008"

"They had endured sleepless nights and many feared the worst but even on arriving at work today, Lehman Brothers' thousands of employees in Britain hoped for a miracle."

"Within moments of arriving at its London headquarters, however, their hopes were dashed as managers informed them the U.S. banking giant had filed for bankruptcy."

"In one swoop, bankers were told at an emergency meeting that the firm's entire 5,000 workforce in the UK were all being made redundant."...


The working class knows how it feels The boot is on the other foot now...most of the above cheered Thatcher on when it happened to the working class...I wonder what/how they feel now.

Anonymous said...

"The Fire Last Time"

"When terrorists first struck New York’s financial district"

"If you go downtown in Manhattan to the offices of the old J. P. Morgan firm at the corner of Wall and Broad, you’ll see the pocked-marble scars of the first blow that terrorists struck at America’s financial heart, the Wall Street bombing of 1920"...


"Wall Street bombing"

"The Wall Street bombing was a terrorist incident that occurred at 12:01 p.m. on September 16, 1920, in the Financial District of New York City. Thirty-eight were killed and 400 persons were injured by the blast.[1] It was more deadly than the 1910 bombing of the Los Angeles Times building by the McNamara Brothers and would remain the deadliest bomb attack on U.S. soil for nearly seven years, until the Bath School bombings in Bath Township, Michigan"...


Anonymous said...

" I am now more concerned about the return of my money than the return on my money."

Mark Twain (1835-1910)

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish