I have not had a stranger Monday morning. Ever. To come into work and find Lehman Brothers has gone bust, and Merrill has been bought by BoA is Big News. There was the weirdest buzz in the office. The secondee from New York seemed pretty shocked, most of us were mainly curious.
Few hours into the day we heard we are the administrator for LB's European business. Anyone who can spell FS (for Financial Services) is apparently lined up for the project team. Which means someone out there has very little confidence in my spelling abilities as I haven't had a call. So maybe we are actually trying to send a team with investment banking and capital markets experience. Of which I have none. I think I actually doubled my knowledge today just by reading the papers. But it is weird being here in this period. Even partners compare it to 1929 and we are all a bit afraid of what's to come.
I actually pass the Merrill and Lehman offices every day. I bet half of the guys I always see drinking at the pubs on my way to the gym won't be there tomorrow. How weird must it be coming into work on Monday morning, knowing things aren't great but assuming they're okish, and getting knifed like this? The paper mentioned a poor Frenchy who was a few days late for his first day of work (thanks to Eurostar), and ended up being fired on his first actual morning. Odd and exciting times.
Few hours into the day we heard we are the administrator for LB's European business. Anyone who can spell FS (for Financial Services) is apparently lined up for the project team. Which means someone out there has very little confidence in my spelling abilities as I haven't had a call. So maybe we are actually trying to send a team with investment banking and capital markets experience. Of which I have none. I think I actually doubled my knowledge today just by reading the papers. But it is weird being here in this period. Even partners compare it to 1929 and we are all a bit afraid of what's to come.
I actually pass the Merrill and Lehman offices every day. I bet half of the guys I always see drinking at the pubs on my way to the gym won't be there tomorrow. How weird must it be coming into work on Monday morning, knowing things aren't great but assuming they're okish, and getting knifed like this? The paper mentioned a poor Frenchy who was a few days late for his first day of work (thanks to Eurostar), and ended up being fired on his first actual morning. Odd and exciting times.
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