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Want to Buy Lehman? Head to eBay
September 17, 2008 9:00 AM
ABC News' Alice Gomstyn reports: Just because Lehman Brothers has filed for bankruptcy, that doesn’t mean that you can’t still own a little piece of the fading brokerage firm -- and I’m not talking about stocks. Everything from hats to softball jerseys to tote bags to cigar humidors, all emblazoned with the Lehman Brothers name, are now up for auction on -- where else? -- eBay.
So far, a Lehman Brothers logo tie and one of the humidors have fetched some of the highest bids: $102.50 and $203.50, respectively.
A source inside Lehman tells me that he and his co-workers -- none of whom would cop to posting the items online -- have had a good chuckle about the auctions.
But not everyone is laughing. One of the eBay sellers is peddling a Lehman Brothers “Operating Principles Cube," a block that lists company tenets such as “Demonstrating smart risk management.”
In the product’s description, the seller wrote, “I wish management listened to the same things on this cube! Then my good friends ... talented people wouldn't be out of a job.”
September 17, 2008 | Permalink | User Comments (4)
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The people at Lehman Brothers should all just love McCain's economic advisor Phil Gramm about now.
Posted by: Ernest T Bass | Sep 17, 2008 9:46:45 AM
This is the humidor with Lehmans, I love it!
Posted by: Steve Wright | Sep 17, 2008 11:13:41 AM
This is the article that tells you what the US housing/banking crisis is and actually says it without doing all the fancy financial lingo. Predicted what banks would go next nearly a week before they did. Tells you what bank is likely to go next too, why Alan Greenspan stood by and let the banks go to town, and what all this means for America. After reading this, so much, when coming from a certain perspective, looks like amazing incompetence, will be seen, when equipped with the info in this piece, as a darkly brilliant stroke of genius after reading. Good post on the 16th about Congress, Bianna.
Posted by: Stefan | Sep 17, 2008 11:12:52 PM
"Loan Titans Paid McCain Adviser Nearly $2 Million
Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.
Mr. McCain, the Republican candidate for president, has recently begun campaigning as a critic of the two companies and the lobbying army that helped them evade greater regulation as they began buying riskier mortgages with implicit federal backing. He and his Democratic rival, Senator Barack Obama, have donors and advisers who are tied to the companies.
But last week the McCain campaign stepped up a running battle of guilt by association when it began broadcasting commercials trying to link Mr. Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae’s former chief executive, Franklin Raines, an assertion both Mr. Raines and the Obama campaign dispute.
Incensed by the advertisements, several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain’s campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions."
Posted by: caliguy55 | Sep 22, 2008 5:15:58 PM
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