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Are you kidding?

So ex-bankers (from Lehman) are busy ringing their lawyers inquiring their options after knowing they will be getting nothing but 800£ salary (way lower than minimum wedges defined by government). The 750 Lehman Brothers Holdings Inc. U.K. staff that lost jobs yesterday are guaranteed 800 pounds ($1,426) under law and must line up with other creditors if they hope to get any of their discretionary bonus. Discretionary bonus is not guaranteed.

I feel they should not waste their inclusive minutes (and precious savings) talking to lawyers. The report that Lehman, Goldman Sachs Group Inc., Morgan Stanley and Bear Stearns Cos. paid about $50 billion in salaries, benefits and bonuses in 2007. The bonus portion, estimated at 60 percent of the total, rose to $29.8 billion from $26.1 billion. Wonder why this was not analyzed by free press earlier at start of the credit crunch. With that much amount of money, employees could have bought 2-3 Bear Stern themselves.
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