Insider at Lehman Speaks of their Mortgage Practices

[jnbadger]

Quote from circadian:

Yeah, my jaw dropped when she told me all of this. Then she said all the pipelines dried up, and then everyone in her unit knew they were gonna get canned, so for the last couple weeks at work they would have "office olympics" and garbage like that. Makes you wonder about what goes on behind closed doors at some of these firms.

Doing olympics for the last couple of weeks? Jesus. The stock was still around 17.

Did they know the company was going down or did they they just think their unit was going away?

 

[circadian]

Quote from jnbadger:

Doing olympics for the last couple of weeks? Jesus. The stock was still around 17.

Did they know the company was going down or did they they just think their unit was going away?

No, she was severed mid-to-late summer. She's not part of the crew that's about to make a hasty exit. She had zero idea that Lehman was going under. She did have the foresight to roll her 401K over to stocks that did not include her former employer though. I'd say she's a smart gal for doing so.