LOOKING OUT FOR #1

That seems to be the guiding principle of the Masters of the Universe. This news should help make people aware that all the blather about the glories of the Free Market is mostly a cover for greed and corruption.

Fury at $2.5bn bonus for Lehman's New York staff

By David Prosser
Monday, 22 September 2008
The Independent (U.K.)

Up to 10,000 staff at the New York office of the bankrupt investment bank Lehman Brothers will share a bonus pool set aside for them that is worth $2.5bn (£1.4bn), Barclays Bank, which is buying the business, confirmed last night.

Barclays is paying $1.75bn for the US operation of Lehman and is keen to retain its best staff. It said it had made no promises to individual staff members about how much they will receive but that the bonus fund would be paid out. In addition to the $2.5bn cash pool, Barclays is also in negotiations with about 30 executives it considers to be Lehman's best assets and plans to offer them contracts worth tens of millions of dollars.

If these 30 people are so damn good, why did Lehman go broke?