Saturday, September 20, 2008
Gordon get your handbag
Wall Street Journal --
LONDON – U.K. Prime Minister Gordon Brown said Saturday that he is working with U.S. authorities to get billions of dollars returned to Lehman Brothers Holdings Inc.'s London operations from the firm's U.S. business.
Responding to questions at the start of his Labour Party's conference, Mr. Brown said he wanted to make sure the money was returned in the interest of the investment bank's U.K. employees.
The transfer of $8 billion has become a target of inquiry by Lehman clients as well as PricewaterhouseCoopers LLP, which is overseeing the insolvency proceedings of Lehman units in London.
One wonders if part of Gordon's comeback plan includes following the path of Margaret Thatcher, who of course he is known to admire. Because his demand sounds a lot like her legendary "I want my money back!" European Community summit in France in 1984.
She got her money back.