Barclay's To Buy Lehman

So let me get this straight. The fourth largest investment bank goes bankrupt on Monday and there's $2.5 billion in bonuses to be paid out? That's another pat on the back at the Lehman's 2008 Christmas party. Or is it Barclay's party, with eight New York directors of Lehman getting 2-year $10 to $25 million contracts. Here's a picture of Lehman employees carrying out their stuff from their London office, courtesy of the Daily Mail.

Barclay's will also pay out the bonuses to 10,000 former employees in New York, after they finish acquiring all of Lehman's North American division. I would be a pissed off British Lehman Bro to hear that kind of news. I'd dump tea in our ports.

I've had my eye on BNP Paribas the past week, after hearing they had set up a crisis management team, bringing in some financial guys from France, including Cyril Meilland, the previous sell-side analyst for French and Benelux banks at Lehman Brothers in London. BNP Paribas is already owed $250 from Lehman and is tightening their financial management as recommended.

Both BNP Paribas and Barclay's were also eyeing $500 million [which] makes its Indian investment banking and brokerage business "a sort of a jewel".

A sort of jewel that is has the attention of Standard Chartered Plc, Barclay's, and Nomura, according to Bloomberg.com.

Here's a picture of Treasury Secretary Henry Paulson. Crazy week, stay tuned.