Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

The Financial Crisis: Five Years Later

Lehman Employees' Final Hours at the Firm

Lehman Employees' Final Hours at the Firm

AP Photo(2); Getty Images(2); Reuters(1); Rex USA(1)

Sept. 15, 2008: Lehman’s 25,000 employees waken to the news that they likely no longer have jobs

Mo Grimeh

Then: Global head, emerging markets, New York

Now: Head, global markets/Americas, Standard Chartered Bank

Sometime around Sunday, 4 o’clock or 5 o’clock, we started getting e-mails saying the deal is dead: no Barclays (BCS). We’re gonna file. And that’s where the panic reached a peak. If the bank was going to file for bankruptcy, we wouldn’t be able to enter the building on Monday morning. That’s really the reason everybody headed back to 745 Seventh Ave.: to collect whatever personal items they might have. The trading floor was packed, but people were not working. Some were crying. Some were drinking beer. Some were doing shots of tequila. Most of them were smoking. There was total chaos. I just saw a lot of people packing boxes, taking pictures of their families, clients’ business cards. The girls were just packing boxes and boxes of shoes. I discovered that most females tend to have multiple pairs of shoes under their desks. I had no idea until that day. —As told to Kyle O’Donnell

Masa Serdarevic

Then: Analyst, mergers and acquisitions, London

Now: Freelance journalist

Going into the weekend, nobody really knew that much. We were less in the loop than New York. It was my mum who told me Lehman had filed for bankruptcy. She was coming back from a business trip and landed at Heathrow at 5:30 or 6 a.m. I didn’t stress out too much about getting into work early. I took a lot of weekend bags and a camera and headed off to our offices on Canary Wharf at a fairly leisurely pace. I dialed into a conference call. It was over pretty quickly: “Great working with you all and goodbye.” Everybody was clearing their desk and forwarding e-mails to their personal accounts. Then the whole system froze. People were walking around with huge amounts of food that they’d bought from the restaurant downstairs using the balances left over on their IDs. We felt slightly under siege; outside there were about 20 photographers standing by the front door. That night, a friend and I went to an auction at Sotheby’s (BID). Damien Hirst’s calf in formaldehyde sold for £10 million. It seemed like a fitting end to a crazy day. —As told to Cristina Lindblad

blog comments powered by Disqus