Ex-Lehman Brothers staff to host secret anniversary party

A sign from Lehman’s
London offices was sold at prestigious auction house
Christie’s.
Oli Scarff/Getty
Images

• September marks 10 years since the collapse of Lehman
  Brothers, the biggest bankruptcy in US history, and the most
  significant moment of the financial crisis.
• Hundreds of former Lehman staff are having a reunion in
  London to commemorate the anniversary, according to a report
  from Financial News
• Details of the event are a closely guarded
  secret.
• Labour shadow chancellor John McDonnell described the
  event’s existence as “sickening” and “disgraceful.”

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LONDON —
The 10-year anniversary of the collapse of Lehman Brothers is
just weeks away and, for most people, it will be a reminder of
the banking excesses that led to the financial crisis.

For some former Lehman staffers, however, the anniversary is a
chance to have a party.

According to a report from Financial News, hundreds of former
Lehman bankers are set to attend an event to commemorate the
anniversary of the bank’s demise, scheduled to take place around
September 15, the day the bank went under.

“It’s hard to believe it’s been 10 years since the last of our
Lehman days!… One of the best things about Lehman was the
people. What better way to celebrate the tenth anniversary than
getting everyone from former MDs to former analysts back together
again!”, an emailed invite to the event said, according to
Financial News’ report.

The venue of the event is unknown, although Financial News
reports that it was originally scheduled to take place at The
Conduit Club in Mayfair, London, before that event was merged
with another Lehman reunion.

Details of the event are believed to be a closely guarded secret,
given its sensitive nature.

Politicians and activist groups have reacted angrily to finding
out about the event. Labour shadow chancellor, John McDonnell
described it as “sickening” and “disgraceful.”

“People will be absolutely disgusted about this unacceptable and
highly inappropriate gathering,” he told Financial News.

“It’s particularly disgraceful in the context of all the people
who lost their jobs and homes to pay for bailing out these
bankers who caused the financial crash.”

Others were more sanguine about the event.
Lord Alistair Darling, the UK’s chancellor during the crisis
told Financial News: “It would be ridiculous to say you can’t
meet. Honestly, of all the problems we face today, frankly a
bunch of people having a glass of wine is the least of them.”

The collapse of Lehman Brothers in September 2008 was
undoubtedly the most memorable moment of the devastating
financial crisis that struck between 2007 and 2009.

By the time Lehman collapsed, the crisis was already
crystallizing but its demise was the point at which regular folks
sat up and took notice. Images of Lehman workers holding crisis
talks and eventually clearing out their desks at the bank’s
London office have become seminal reminders of the crash.