Pitchforks, please.

I think this is the short version of this Times of London article:

Hours before its bankruptcy filing, Lehman Brothers transferred $8 billion from its U.K. branch to its U.S. branch. The London branch can’t pay its employees, can’t pay its counterparties, and has a hole in its pension plan. The U.S. branch is about to be acquired by Barclay’s, which in turn is going to pay out $2.5 billion in bonuses to the folks who managed Lehman into the ground and who had the sign-off on the asset transfer and on the sale to Barclay’s.

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: Markarkleiman-at-gmail.com