Finance

Fees For Lehman Bankruptcy: $2 Billion

Everything about investment banks is expensive. Even shutting them down when they go bust.

It'll cost about $2 billion to unwind Lehman Brothers, the FT reports. There are 1,000 people still working on untangling the legal mess in the U.S., and another 300 in London.

The ghost of Lehman is still a big business: about $60 billion in commercial loans, real estate, derivatives and private equity investments in the U.S. alone, according to the FT.

Lehman, of course, didn't get a bailout, and its bankruptcy two years ago this week sparked the most acute phase of the crisis.

So the $2 billion in fees are coming out of the husk of Lehman (and indirectly out of the pockets of the Lehman's creditors, many of whom are still waiting to get paid back).

For More: Read our post on the recent testimony by Lehman CEO Dick Fuld, who said the bankruptcy wasn't Lehman's fault.

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