Lehmans

John_Pierpoint

Thrugelmir wrote: »

Barclays bought the Investment Banking arm of Lehmans in September 2008.

Presumably the real beneficiaries have been the Gulf Arabs, from whom Barclays bought a very expensive "get out of the clutches of the government" loan?

antrobus

Thrugelmir wrote: »

Recent results show Barclays to be little different to other banks. As the earn out has been and gone.

Don't know. My knowledge of the intimate details of Barclays' operations is somewhat limited. On the other hand, the link I provided was to a report from Bloomberg under the headline 'Barclays Reaps Benefit of Diamond’s Purchase of Lehman in U.S.' which seems to suggest that somebody thinks they're doing well out of it.

sabretoothtigger wrote: »

...The lehmans deal was so good they got sued for profiteering or something, ...

There was some dispute a couple of years back about the deal. Barclays paid $1.85bn, and the liquidators of Lehmans later claimed it should have been more like $12.85bn.

http://www.telegraph.co.uk/finance/financetopics/lehman-brothers/8342216/Barclays-could-get-500m-after-Lehman-Brothers-victory.html

sabretoothtigger

Where Is !!!!!! Fuld Now? Finding Lehman Brothers' Last CEO

http://t.co/luLi6IITPo

Learning to fly again - he is grounded and fighting many lawsuits apparently. Im surprised he is tied down

John Hank Paulson sought to smite Lehman out of vengeance for his old Goldman rival firm ,is Fuld's take on cause of bankruptcy

Thrugelmir

sabretoothtigger wrote: »

Learning to fly again - he is grounded and fighting many lawsuits apparently. Im surprised he is tied down

5 years on this week. Possibly another 10 to go before they wind the operation up!

Having said that. Enron went under in 2003 and that's still ongoing. Shows how complex these operations became.

BobQ

There was a bit by Peston on the Today programme at 0850 ish on Friday.

It seems Canary Wharf hosts 450 staff still busy dealing with claims from the winding up of European operations. They have another 2years work.

If I recall correctly they have now recovered £40bn, paying dividends and creditors £15bn already. Apart from subordinated debt subordinated debt to the US parent, most creditors will get their money back. Many have bought up the debt and quadrupled their money.

sabretoothtigger

most creditors will get their money back

That would be surprising. Of course they could total it all now but rushing it likely loses value, Barc only got away with it because of losing the good faith type trading worth of the bank hence a massive bargain for them apparently.

I believe there are some Lehman products still being bought and sold just like I know people with Barings funds still making profits though they were rebranded? not sure if all Leh are now too

The treasury chief on 2008
http://www.cnbc.com/id/101032241

blackanchorage

sabretoothtigger wrote: »

http://t.co/luLi6IITPo

Learning to fly again - he is grounded and fighting many lawsuits apparently. Im surprised he is tied down

John Hank Paulson sought to smite Lehman out of vengeance for his old Goldman rival firm ,is Fuld's take on cause of bankruptcy

I can't believe that Gregory is suing for $35m for deferred compensation - some people have no shame.