James Walker: Memories of Lehman should make us leery
Ten years ago, in London's rather joyless Canary Wharf, an ordinary morning was punctuated by flocks of bankers looking dazed and wandering around clutching papers and pot plants in cardboard boxes.
Back then I was chatting to a consumer rights organisation and happened to glance over to the big glass meeting rooms over the docks, where the entire workforce of financial colossus Lehman Brothers were in a meeting. It was mid-September and the firm was filing for bankruptcy. The financial crisis was about to begin.
Investors and economists were so certain that a financial collapse on this scale could not occur, there was a huge sense of shock when it did. And of course, we all paid the price for the banker’s arrogance.
Advertisement
Hide AdAdvertisement
Hide Ad