John McDonnell slams 'sickening' Lehman Brothers reunion party plans

Posted On: 
20th August 2018

John McDonnell has blasted plans for a secret get-together between former Lehman Brothers staff.

The Wall Street giant collapsed after its involvement in the sub-prime mortgage industry
Credit: 
PA Images

Employees from the failed Wall Street giant are set to meet in London for cocktails and canapés to mark the 10 year anniversary since the bank went under.

The collapse of Lehman Brothers in 2008 was one of the defining moments of the global financial crash.

John McDonnell warns MPs not to use anti-Semitism row as ‘cover’ for split

John McDonnell warns 'fat cats getting fatter' as chief exec pay soars

Jeremy Corbyn and John McDonnell slam Benjamin Netanyahu amid wreath row

John McDonnell calls for new ‘Anti-Nazi League’ to tackle far-right racism

The US Federal Reserve refused to bail out the 158 year-old merchant bank when it filed for bankruptcy following its involvement in the sub-prime mortgage crisis.

In an invite seen by Financial News, organisers said: “It’s hard to believe it’s been 10 years since the last of our Lehman days!"

They added: "One of the best things about Lehman was the people. What better way to celebrate the tenth anniversary than getting everyone from former MDs to former analysts back together again!”

Labour Shadow Chancellor Mr McDonnell slammed the reunion plans, saying: “This is absolutely sickening after a decade of people suffering austerity.”

He fumed: “It’s particularly disgraceful in the context of all the people who lost their jobs and homes to pay for bailing out these bankers who caused the financial crash, as well as against a backdrop of firefighters, police officers and other public servants of facing years of brutal Tory pay restraint.”

He added: “People will be absolutely disgusted about this unacceptable and highly inappropriate gathering.”

But Alistair Darling, who was Chancellor during the bank’s collapse, defended the plans, saying: “It would be ridiculous to say you can’t meet.

"Honestly, of all the problems we face today, frankly a bunch of people having a glass of wine is the least of them.”