CEO Richard Fuld

AN AMBITIOUS LOOK AT WALL STREET'S CONVULSIONS Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System--and Themselves By Andrew Ross Sorkin Viking; 600 pp.; $32.95 There's no paucity of books about the financial crisis. Journalists, academics, economists, and pundits seem to have chronicled every event surrounding the drama on Wall Street. Some bite off just a piece, as did Wall Street Journal reporter Kate Kelly in Street Fighters, which looks at the last three days of failed investment bank Bear Stearns. Others, such as journalist Duff McDonald's biography of JPMorgan Chase CEO Jamie Dimon, ... Read Full Story

The administrators of Lehman Brothers' assets in Europe said Monday that they may seek a direct agreement with hedge funds and other creditors to return money tied up since the collapse of the parent company as an alternative to a court-sanctioned settlement. PricewaterhouseCoopers — which controls some $8.9 billion in assets from Lehman Brothers International (Europe) since the parent company went bankrupt on Sept. 15, 2008 — has proposed a contractual agreement with creditors following an adverse ruling by the High Court in London. The court ruled in July that it had no power to grant the administrators' request to set a "bar date" ... Read Full Story

NEW YORK (Reuters) - Lehman Brothers Holdings Inc <LEHMQ.PK> said on Tuesday that Barclays Capital Inc <BARC.L> got a $8.2 billion "windfall profit" from excess assets it took control of in the fire sale of Lehman's U.S. brokerage business a year ago. In court papers filed in federal bankruptcy court on Tuesday, Lehman claimed that "critical changes" were made to the sale in between the time the sale order was signed and the deal was closed, resulting in Barclays gaining control of assets that Lehman contends were not supposed to be part of the sale. Lehman filed for bankruptcy on September 15, 2008, in ... Read Full Story

Nov. 2 (Bloomberg) -- An eclectic batch of artworks that once adorned the corporate offices of Lehman Brothers Holdings Inc. sold for $1.35 million yesterday at Freeman’s Auctioneers in Philadelphia. Bloomberg's Gigi Stone reports. (Source: Bloomberg) Read Full Story

A chill runs down the spine of Lawrence McDonald every time he drives past the Wall Street building of collapsed investment bank Lehman Brothers, where he was one of the most profitable bond traders. "The big takeaway is that the fate of 20,000 souls was determined in that building, especially on the 31st floor," McDonald, 43, told AFP in an interview ahead of the first anniversary Tuesday of Lehman's collapse. The 158-year-old Lehman filed for bankruptcy protection on September 15, 2008, in the largest US bankruptcy filing in history, leaving the future of 25,000 staff in jeopardy and sending a financial tsunami across the ... Read Full Story