This time last year I was an equity analyst at Lehman Brothers. As the firm collapsed, I sent a series of notes to my friends and family with my take on the situation. To coincide with the anniversary, I have been publishing those observations here one year later. [Photo: Lehman employees celebrate]===========================
Hollywood Ending!
Hollywood Ending!
Originally written Tuesday September 16th, 2008,3pm
Sweet Jesus, what a roller coaster ride!
At 2:21 we all get an email saying "come to 2, there will be an announcement." Well the only way to get to 2, where the entire floor is a vast open space for trading, is to go to the lobby and then wait for the elevator to take you up one floor. So there's a massive traffic jam and I arrive just in time to hear Bob Diamond, the American who runs Barclays Capital, announce "Welcome to Barclays!" I don't know any details but I'm sure a lot of people who were in that room will still see pink slips in the next month or two. But the WSJ and others are reporting this action saves about 10,000 US jobs. Hooray! .
At 2:21 we all get an email saying "come to 2, there will be an announcement." Well the only way to get to 2, where the entire floor is a vast open space for trading, is to go to the lobby and then wait for the elevator to take you up one floor. So there's a massive traffic jam and I arrive just in time to hear Bob Diamond, the American who runs Barclays Capital, announce "Welcome to Barclays!" I don't know any details but I'm sure a lot of people who were in that room will still see pink slips in the next month or two. But the WSJ and others are reporting this action saves about 10,000 US jobs. Hooray! .
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