There is one man left standing at Lehman Brothers and he has money. It’s not Dick Fuld, and it’s not HR or marketing, or even the asset management team. We won’t tell you his name but we will tell you that he is still spending his money wisely, at last. For a bank that has spewed so much cash into the ether from the swashbuckling boom that preceded the credit crunch, sense has now prevailed.
Has this unnamed individual bought a car flashier than any other? No. Has he finally bought that yacht he has been promising himself? No to that too. Has he purchased the kind of country estate that bulge-bracket boys find time to boast of? No again.
Of course, in these straitened times he is not going to extend his credit line all that distance. Those of you that have the right answer will know that the Lehman banker has bought, and paid for a subscription to Structured Products magazine. It happened this morning. Our surprise is presumably his joy.
