The fire sale at Lehman Brothers has begun.

It didn’t take long for British bank Barclays to step up to the plate after Lehman Brothers filed for Chapter 11 bankruptcy protection Monday. They are wrapping up talks today to purchase some of Lehman’s U.S. assets (brokerage and asset-management businesses) for about $2 billion dollars, according to a report in The Wall Street Journal.

So will this sale protect the 26,000 employees? Well not really, the WSJ reported that about 10,000 would remain if Barclays bought the firm.

The bleeding for the employees will likely continue as this gets sorted out. As if seeing their hard earned wealth dissipate in a matter of days wasn’t enough.

Something needs to be done to help these employees who likely have been very loyal to Lehman and given decades of service.

What do you think?

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