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Lehman Brothers Art Sale: Turn Your Downstairs Toilet Into A Bank

LEHMAN Brothers, that monolith of banking that Gordon Brown sucked up to and then went bust, had a nice collection of art. Because, hey, readers, how can you run a bank if you don’t have expensive art on the walls? You can’t.

At Christie’s, anyone wanting to start their own bank can buy the art that once adorned the walls and offices of the British and European arms of the former banking powerhouse before being declared bankrupt in 2008.

You can even buy the sign that once hung over the door and turn your downstairs toilet into a merchant bank (Lucky Pin not supplied)…

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Christie's employee Susanna Routledge walks past two pieces of artwork from the Lehman Brothers sale during a photo call at Christie's in west London, before it goes under the hammer on September 29.

Posted: 24th, September 2010 | In: Money | Comment (1)


The End Of The Financial World

I HAVE written an awful lot on credit default swaps, those miracles of financial engineering, claimed by Alan Greenspan to have almost eliminated risk from the financial markets, but I felt I should mention that tomorrow is the day when the outstanding credit default swaps on Lehman Brothers are due for settlement.

Chenier has more…

Posted: 21st, October 2008 | In: Reviews | Comment


David Cameron Is Not Short On City Friends

DAVID Cameron says “You can bank on me”, at least this is the message the Independent relates to its readers from the Tory Party conference.

And it’s a good job that the Bank of Cameron is open, but not all that good, maybe, if Lady Louise Patten, wife of Tory education minister John, is running things.

Until recently she was a non-executive director of Bradford & Bingley, aka Bring & Buy, aka Boom & Bust etc.

And there is Christopher Gent, director of Lehman Brothers, who has given tens of thousands of pounds to the Tories.

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Posted: 2nd, October 2008 | In: Broadsheets, Politicians | Comments (4)


Allison Pearson: The Sword, The Money Or The Poison Pen

ALLISON Pearson, of the Daily Mail, is still talking about those City “spivs” and how they are, well, just so worthless:

Throughout the boom years, the bankers justified their stellar incomes by saying they were working heroic hours to help bring greater prosperity to us all. Oh, really? Try telling that to a soldier who has spent 180 days dodging mortars in Helmand and dreamt of nothing more than enjoying a bucket of Kentucky Fried Chicken in front of the TV with the family he adores.

Most bankers never have to justify their incomes, wages being a matter of market rates. And do not soldiers dream of owning islands, flying first class and watching their football team play on a massive plasma screen? Do bankers eat KFC?

Still:

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Posted: 1st, October 2008 | In: Money, Tabloids | Comments (3)


Ales To The Thieves: Drinking Pays Better Than Banks

IF you had purchased $1,000.00 of Delta Air Lines stock one year ago, you
would have $49.00 left.

With Merrill Lynch, you would have had $16.50 left of the original
$1,000.00.

With Lehman Brothers, you would probably have nothing, but if you were
lucky, less than $5.00 left.

However, if you had purchased $1,000.00 worth of beer one year ago, drank
all of the beer, then turned in the bottles and cans for the recycling
REFUND, you would have $214.00 cash.

June

Posted: 29th, September 2008 | In: Reviews | Comments (2)


Double WaMu: Alan H. Fishman In Line For Million Dollar-A-Day Bonus

WHEN Lehman Brothers collapsed, news was of the French trader who’d arrived at his desk to see his desk leave the office. (Although now Nomura, the Japanese outfit, has agreed to take over the European business, his desk might return).

Now learn of CEO Alan H. Fishman, chief executive of Washington Mutual. He started his new job at the failed bank just three weeks ago.

Mr Fishman is now eligible for $19.1 million in compensation.

The New York Times notes:

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Posted: 27th, September 2008 | In: Money | Comments (30)


Katherine Bucknell On The Lehman Brothers’ African Pump

WRITES the Times: “After Lehman Brothers: desperate City wives“:

The real-life stresses and strains of being married to an investment banker forms the backdrop to Katherine Bucknell’s bestselling US novel Canarino; Here she explains what the repercussions are for the families caught up in the latest financial meltdown…

At last, someone to make sense of it all…

For every vanished pile there will be crying children, an angry spouse, unemployed builders and domestic help, goods left on shop shelves, flats and houses available to rent or buy, empty restaurants, and villages in Africa that don’t get their new water pump after all.

Now do you understand..?

Unravelling Allison Pearson’s Message For Lehman Brothers Sorority

Posted: 20th, September 2008 | In: Broadsheets, Money | Comments (4)


The Idiots Guide To HBOS And The Singing Malteser

HSBOS bank collapses, proof that capitalism works and you’re never to big to go under. (See Lehman Brothers.)

Big news, then. But the red-tops have a problem: they need to make their readers understand what Lehman Brothers was. They do this by finding an easy point of reference and talking down to them in words of one syllable or fewer.

THE SUN: “MASS EXIT – 40,000 face axe, including Howard.”

Howard..? Is he the boss of the failed outfit? In a way yes.

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Posted: 18th, September 2008 | In: Money, Tabloids | Comments (11)


Gordon Brown Salutes Lehman Brothers’ Rosy Future

BANKING Quote Of The Day: Gordon Brown On Lehman Brothers:

“Lehman Brothers is a great company today that can both look backwards with pride and look forwards with hope. And in wishing Lehman Brothers the success it deserves for its future, let me thank you for the privilege of being here and formally declare this building open”Gordon Brown opening Lehman’s European HQ, Canary Wharf April 2004.

Let’s hope Gordon’s future is every bit as rosy as that of the Lehman Brothers…

Posted: 18th, September 2008 | In: Money, Politicians | Comment (1)


Lehman Brothers Go The Gay Way

LEHMAN BRothers keep it in the family. If both brothers are gay, there are unlikley to be any more he Lehman Brothers. Look out for the Lehman Sisters at revue bar near you….

Posted: 17th, September 2008 | In: Money | Comments (2)


Unravelling Allison Pearson’s Message For Lehman Brothers Sorority

ALLISON Pearson, of the Daily Mail, is discussing the impact of the Lehman Bothersearthquake” and what investments bankers did to us when they never had it so good:

For years, investment bankers could outbid any family on a London house because they were always cash buyers. Flash Harrys and Jaspers with bonuses as big as their egos were happy to pay stupid money. So the property market duly went insane…

Who can afford those cray-zee prices?

Film studio Miramax has demanded that Allison Pearson return the $700,000 it paid her for rights to her novel I Think I Love You after the Daily Mail columnist failed to deliver the book. The novel, Pearson’s second following her successful debut I Don’t Know How She Does It, is about one girl’s infatuation with David Cassidy.

Pearson goes on:

The quality of British life became dangerously frayed. Kids unravelled.

Unravelling children. For shame! You’ve seen them, with their frayed fingers, unstitched heads and loose bits of digestive tract trailing behind them on a sodden grey pavement.

Pearson’s seen them. And she’s seen the kiddie unravellers at Lehman Brothers, once addressing the banks sorority:

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Posted: 17th, September 2008 | In: Money, Tabloids | Comments (8)


Lehman Brothers’ Workers Save Jobs By Playing Bingo

YOU join us for another game of Tabloid Bingo. Today the tabloids are counting the numbers of bankers falling from the windows of Lehman Bothers’ offices.

DAILY MIRROR: “About 4,500 Lehman Brothers staff …may lose their jobs.”
They have chance…

DAILY MAIL: “Some 4,500 Lehman workers lost their job in Britain”

Damn!

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Posted: 16th, September 2008 | In: Money, Tabloids | Comments (4)


The Idiots Guide To The Lehman Brothers

LEHMAN Brothers bank collapses, proof that capitalism works and you’re never to big to go under.

Big news, then. But the red-tops have a problem: they need to make their readers understand what Lehman Brothers was. They do this by finding an easy point of reference and talking down to them in words of one syllable or fewer.

THE SUN (front page): “CRASH – BANG – WALLOP”

Jobs have been lost. Lehman’s hasn’t half a sixpence to its name. But what does it man? Well:

“Manchester Utd sponsor AIG could be next.”

That’s right. Man United fans might be forced to buy a new shirt. And with the season but a few weeks old. For shame!

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Posted: 16th, September 2008 | In: Money, Tabloids | Comments (8)