Brown wants Lehman cash returned to UK staff

 

British Prime Minister Gordon Brown said today he was pushing the United States to help get $8 billion from the failed US investment bank Lehman Brothers to its staff in Britain.

Administrators winding up Lehman's European business have questioned why $8 billion was transferred to New York just before the bank collapsed.

There have been fears among Lehman's 4,500 staff in London they may not get their final pay packets.

“We are asking and working with the American government to get that money back to pay salaries, not of high-flying financiers, but of cleaners and people who are computer operators who would otherwise be denied their money,” Mr Brown told delegates at the ruling Labour party's annual conference.

Mr Brown also said he would visit the United States on Wednesday to meet financiers and global authorities to discuss the turmoil in financial markets. He will also speak with the French, German, Italian and Indian governments to build support for an international financial watchdog.