http://itssdeconomicfreedom.blogspot.com/2008/09/itssd-reports-us-fed-must-respect-us.html
Up to 10,000 staff at the New York office of the bankrupt investment bank Lehman Brothers will share a bonus pool set aside for them that is worth $2.5bn (£1.4bn), Barclays Bank, which is buying the business, confirmed last night.
The revelation sparked fury among the workers' former colleagues, Lehman's 5,000 staff based in London, who currently have no idea how long they will go on receiving even their basic salaries, let alone any bonus payments. It also prompted a renewed backlash over the compensation culture in global finance, with critics claiming that many bankers receive pay and rewards that bore no relation to the job they had done.
A spokesman for Barclays said the $2.5bn bonus pool in New York had been set aside before Lehman Brothers filed for chapter 11 bankruptcy in the United States a week ago. Barclays has agreed that the fund should continue to be ring-fenced now it has taken control of Lehman's US business, a deal agreed by American bankruptcy courts over the weekend.
[U.S. EXECUTIVE GREED AT EXPENSE OF AMERICAN AND OTHER TAXPAYERS!! LEHMAN EXECUTIVE BONUSES & GOLDEN PARACHUTES SHOULD NOT BE PROTECTED BY BANKRUPTCY FILING IN ANY COUNTRY - SHOULD BE CONTRIBUTED BY EXECUTIVES TO BAIL-OUT THE U.S. TAXPAYER and PAY SALARIED WORKERS WHO ARE OWED THEIR PAYCHECKS!!]...
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