Ex-Lehman Brothers staff are slammed over plan for party to ‘celebrate’ 10-year anniversary of bank collapse that sparked global financial meltdown
- Former Lehman Brothers staff said to be planning 10-year anniversary party
- The bank collapsed in 2008 propelling the credit crunch into a full-blown crisis
- The proposed ‘celebration’ event has been branded ‘sickening’ and ‘disgraceful’
Former Lehman Brothers staff have been slammed over a ‘sickening’ plan to hold a party to ‘celebrate’ 10 years since the bank collapsed – sparking a global financial meltdown.
Hundreds of ex-workers have been sent an invitation to a cocktails and canapes reception in London on September 15.
The day marks a decade since Lehman Brothers went bust in 2008, just over a year after the credit crunch began. The shocking failure turned the banking problems into a full-blown crisis.
Tory MPs jibed that the bankers – who are also said to be planning reunion parties in New York and Hong Kong – should also celebrate the sinking of the Titanic. Labour branded the events ‘disgraceful’ and ‘sickening’ saying the crash had put the UK through a decade of austerity.
Hundreds of ex-Lehman Brother workers have been sent an invitation to a cocktails and canapes reception in London on September 15
The email invitation for the reunion, which was seen and first reported by Financial News, was addressed to ‘Lehman Brothers & Sisters’.
It said: ‘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 10th anniversary than getting everyone from former MDs to former analysts back together again!’
Reunions are also expected to take place in New York in September and Hong Kong in November.
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The failure of the US banking giant became one of the most infamous and shocking moments of the crisis, spiralling the credit crunch into full-blown market chaos.
This autumn will also mark 10 years since the UK Government threw a multibillion-pound taxpayer lifeline to the banking sector, taking stakes in Royal Bank of Scotland (RBS), Lloyds TSB and HBOS
Lloyds TSB would go on to take over ailing HBOS to become Lloyds Banking Group, which at its peak was 43 per cent owned by the taxpayer and only went fully private again in 2017.
The UK Government still holds about 62 per cent of RBS.
Shadow chancellor John McDonnell said: ‘This is absolutely sickening after a decade of people suffering austerity.
Staff carry boxes out of Lehman Brothers after the collapse in 2008. There is no suggestion anyone pictured is involved in the reunion
‘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, as well as against a backdrop of firefighters, police officers and other public servants facing years of brutal Tory pay restraint.
‘People will be absolutely disgusted about this unacceptable and highly inappropriate gathering.’
Tory MP Nigel Evans said: ‘Couldn’t they wait until April 14, which was the sinking of the Titanic?
‘The downing of two iconic institutions is surely better than one.’
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