Saturday, September 20, 2008

Ah, so there was one kind samaritan attempting to help Lehman out just before it collapsed by giving it a €300 million shot in the arm (aka Germany's (and possibly the world's) dumbest bank. I can see this being a textbook example of settlement risk (not to mention incredibly lax risk controls, automated systems or no) for years to come.

FT's Alphaville has posted a wickedly naughty, but oh-so-accurate, ballad detailing this week's events.

In other news, it's tough at the top:
Around 50% of the chief executives interviewed said they found the job “intensely lonely” and did not know who to turn to for advice. A common response was, “I can’t talk to the chairman because in the end he’s the one who is going to fire me. I can’t talk to my finance director because ultimately I’m going to fire him, and I can’t tell my wife because I never see her and when I do, that’s the last thing she’ll want to talk about.”

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