Last weekend’s Sunday Times Business section carried an article by Danny Fortson and Kate Walsh about the advisers working on the collapse of Lehman Brothers.
The pictures at the top of the article showing a grim faced Dick Fuld, former Chief Executive, and one of the workers who lost her job that fateful day almost one year ago brought home what a momentous event the collapse of such a major investment bank actually was. The banks in the UK were deemed to be too big to fail and have been bailed out with huge amounts of taxpayers’ money but Lehman Brothers went under owing an eye watering $613 billion.