AFR in the News: Lehman elite stood to get $700 million
Lehman elite stood to get $700 million – Walter Hamilton, Andrew Tangel and Stuart Pfeifer (Los Angeles Times)
April 27, 2012
“Less than a year before the 2008 collapse of Lehman Bros. plunged the global economy into a terrifying free fall, the Wall Street firm awarded nearly $700 million to 50 of its highest-paid employees, according to internal documents reviewed by The Times… “The numbers are shocking but consistent with the fact that in some ways Wall Street has been run as a casino for extracting money from the real economy and using it to pay extraordinary high levels of compensation — one might say obscenely high — to a small number of people,” said Lisa Donner, executive director of the advocacy group Americans for Financial Reform”. Click here for more.