This is a CNBC special report Is your money safe, the fall of Lehman Brothers When there was a huge round of layoffs the month prior, in February I was on vacation in New Zealand, I think
I saw an email from a co-worker saying hey this just happened And it was really, really shocking They had weathered all these other financial storms and you know the whole concept of too big to fail It was just such a large layoff and unexpected I was laid off in March and then it went completely under in September It was, it was a Friday and I had access to my boss’s email and I
saw an email my boss asking the CEO who was gonna tell me and the CEO said I’ll tell him I had no warning beyond happening to see an email that it was coming down the pike for our department I’d say that there is probably is a portion people who think everyone was somehow in cahoots as far as the crisis It was, there was nothing that my department did that attributed you know the downfall and bad loans and everything that you hear about It seemed to be into two camps of, you know there was a group a people just waiting for the next shoe to drop And then there was the people like okay we weathered the worst, you know It’s hope, hope for the best, prepare for the worst you know kind of mentality I would say that there’s just been a lot of instability for me work-wise I haven’t been able to, you know, get into a place and you know get traction When Lehman Brothers went bankrupt I was in touch with my boss and asked him you know what’s this like How are you doing, what have you He was like well this is kind of one for the history books I feel like I’m witnessing history My job was to make sure all the correct IPS that went over and the ones that weren’t supposed to go over didn’t I never really felt personally at risk, I think just cuz I was busy I was always busy and never knew what was changing Lehman was huge, so like you know anyone thought that something that big could go bankrupt I remember, one thing I remember in
particular was 745 Seventh Avenue was like surrounded by reporters So every time I would go between the buildings I get stopped and they’d ask me what’s going on, blah blah blah I can’t really think of any situation under which the Barclays-Lehman deal happened Where as like, the people coming over would be, you know, thrilled You know, the company went bankrupt then they got you know, picked off, you know and then bankruptcy But I think that in itself, you know feeds a little bit of possibly resentment Every company is run by people right, you know no matter how smart they are they don’t know everything And if something doesn’t seem right or something seems to be different than other people are telling you don’t ignore that Now I’m a general counsel at a small company called Bark and we sell dog products Our mission is to make dogs happy and I’m sure I’ll continue to change jobs, seems to be the trend these days At some point hopefully I won’t be a lawyer I think about Lehman a lot more than Barclays, I think of it as the Lehman Brothers building and it’s very apparent that it’s not anymore