Bros’ bust and boon

Unlike the other assorted money changers filthing up the U.S. economy, Lehman Brothers didn’t benefit from George W. Bush’s magnanimous offer of tax-payer money to save the bacon of pigs that more rightfully ought to have been enslaved for their stupidity. But that doesn’t mean the investment bank is going home empty-handed. Included with Lehman’s buy-out by the U.K.’s Barclays Bank, the New York staffers who helped lead Lehman’s to ruin will be sharing in a $2.5-billion (U.S.) bonus pool.

Aside from offending the scales of justice, the news also raised the ire of 5,000 employees at Lehman offices in Europe and the Middle East, who won’t be seeing a cent.

“Barclays has identified eight individuals out of the New York staff,” reads the bankruptcy filing by Lehman Brothers Holdings, “who are vital to make the deal succeed and a further 200 who are identified as ‘key.’”

The greater share of the $2.5-billion will be going to the top, from where the shit started falling, reportedly with eight current directors being handed two-year contracts worth between $20- and $50-million.

Barclays insists there was neither pressure nor obligation to pay the bonuses, but feel it’s necessary to keep the services of good people.

by SCOTT SAXON