Lehman Comes Back From the Dead

Lehman Brothers unloads uranium and once-toxic real estate to pay creditors
Photo illustration by 731; Photographs by Everett Collection (Frankenstein); Adrian Weinbrecht (white shirt); Erik Marinovich (lettering)

In the glory days before its collapse in September 2008, Lehman Brothers Holdings was the fourth-largest investment bank in the nation, headquartered in its own 32-story skyscraper on Manhattan’s Seventh Avenue with a block-long electronic billboard that flashed a promotional video night and day. Today the offices of Lehman Brothers are tucked away on two floors in the Time & Life Building, half a block away, where about 430 workers labor to unwind derivatives trades and sell illiquid assets that helped bring the firm down.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.