Ex-Lehman Bankers Getting Billions In Bonuses


The following was translated from the German publication Spiegel:

Ex-Lehman Bankers Getting Billions in Bonuses

The collapse of U.S. investment bank Lehman Brothers sparked the global financial crisis. But now, according to SPIEGEL information, 2,500 employees of the bankrupt company received billions in guaranteed bonuses from their new employer – ironically for the crisis years 2008 and 2009.

2,500 Ex-Lehman employees in Europe have collected guaranteed bonuses for the crisis years 2008 and 2009 amounting to two billion dollars. While the bankruptcy of their bank has caused the world financial crisis, they got on average about 400,000 dollars – per person, according to Spiegel.

On 15 September 2008, the U.S. investment bank Lehman Brothers collapsed – and thus brought a devastating chain reaction. The global financial system was nearing collapse, the world suffered a property loss of at least 15 trillion U.S. dollars.

The bankers were taken over in October 2008 by the Japanese finance house Nomura, and persuaded to stay by guaranteeing them bonuses. Many guarantees only expire in March this year. Most London-based investment bankers are also not affected by the penalty tax by the British Government in the amount of 50 percent.

The guaranteed bonuses would be taxed as fixed income, was given as an explanation. Christian Meissner, the former European head of Lehman and now head of Nomura Europe, also sues the liqudator of his former employer for 17.3 million U.S. dollars which were promised to him in his four years at the U.S. bank but not yet disbursed.