Lehman: Missing $8bn

What happened to Lehman Europe’s $8bn? The broker’s European bankers are irate that $8bn was transferred to headquarters just days before the parent company went bust. They are also miffed that the top dogs in New York, who had a say in how the bank was run before it went under, are getting packages to join Barclays. The impact of this cash transfer was severe for the European business. It meant that last Monday it could not open for business because it had no cash. Not that it would have survi...