Naked Capitalism reports that Lehman staff received $5.7 billion in bonuses in 2007. This weekend, when the bank was in sliding towards the abyss, the market capitalization of Lehman was slightly below $3 billion.
I know I am simplying things a little here, but in principle, the staff could have bought the bank back with their bonuses. It is strange how that option was never seriously considered.
Monday, September 15, 2008
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