Lehman Is Hiring Derivatives Experts Again

Hey! Were you laid off by Barclays when it took over Lehman Brothers? Well, we may have a job for you. The huge bankruptcy of Lehman Brothers may require as many as 450 people who can analyse derivative swaps. Lehman needs to unravel more than 1.5 million contracts to determine what assets are left for creditors.

It’s only a temp job but will likely pay as “Wall Street salary.”  Make a buck going in, and make a buck going out. It’s the Wall Street way!

From the Deal:

Lehman Brothers Holdings Inc. will ask a New York judge for authority to hire hundreds of professionals to help decipher the bankrupt investment bank’s intricate derivatives contracts.

In a court hearing that drew scores of onlookers, Harvey R. Miller, debtor counsel to Lehman at Weil, Gotshal & Manges LLP, communicated the company’s need to hire 450 new professionals to look through Lehman’s derivatives contracts to determine which parties could assert legitimate claims against the bank.

 

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.