4000 jobs gone as Lehman folds

Many are blaming the CEO for not selling last week.  Rumour has it that there were opportunities to sell last week but the CEO and senior directors wanted to hold out for more money.

Workers were told at 8.30 by senior managers that attempts to save the bank had failed and their employment there was over.  Shortly afterwards shocked workers could be seen leaving Canary Wharf with belongings.

Meanwhile headhunters and graduate recruitment specialists could be seen setting up in local coffee shops to pick up fall out from the events.  All eyes are now on other major institutions such as AIG which could have even bigger implications.