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Barclays and Lehman Seal Deal

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The Financial Timesreports that an agreement has been reached for Barclays to buy parts of Lehman Brothers, though certain details like which parts* and for how much remain unclear. Contingent liabilities related to the ego of Institutional Investor's #1 Brokerage and Asset Manager of 2006, Dick Fuld, were hopefully offset by the $1 billion+ tied up in the Times Square Headquarters building. Barclays is totally screwed otherwise. Sources tell Dealbreaker Coffee Cart Man was thrown in last minute to sweeten things for the Brits.
*Though most certainly US broker-dealer operations.


Layoffs Watch '12: Barclays

Cuts are said to have gone down in Bob Diamond's den yesterday. "FYI: layoffs yesterday at Barclays Capital. Lev Fin was hit hard (though Barclays was nice enough to do the cuts after bonuses were handed down, in addition to giving 1-month's pay)."