Have just checked my glamorous view of Canary Wharf (go to topmost room of house, stand on chair, peer from window, squint...). What was that hovering above it? Must have been a cloud of gloom. From the Guardian:
The Lehman offices in the UK were essentially cut adrift and put into administration. There was an immediate ban on trading and staff were told to clear their desks. "It was surprisingly calm - there was a kind of blitz spirit in the sense that we were all in it together," one banker said. "It was made clear that there was no desire to have us hanging around.
Or maybe a cloud of rage:
Many have been told to return today for a briefing from the administrators. Employees hope to learn, among other things, whether they will receive monthly pay cheques due on September 21. "There's quite a lot of anger that things were allowed to get to this stage," he added.
Still, why should I care? Larry Elliott:
The cull of employees in the City will have massive ripple effects throughout London and the south-east. The casualties will not just be the highly paid bankers, for whom there will be little sympathy, but also the car dealers, the shop assistants, the restaurant staff, the cleaners and all the other people whose employment has relied on the wealth generated in the markets.
That's why.
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