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.