12/10/2013 00:00
TW
0
STAFF REPORTER

PALMA
SIX Balearic-based clients lost a million euros or more when US investment bank Lehman Brothers went bust last month.
Banking chief Luis Pineda accused bosses of the disgraced American bank of playing a dangerous game with clients' money.
He said Lehman's played the markets is if they were a “giant casino,” and explained more than 20 other customers had lost more than 500'000 euros in the bank's collapse.

Lehman Brothers was the fourth-largest investment bank in the United States. It was considered one of Wall Street's biggest dealers in fixed-interest trading and was heavily invested in securities linked to the US sub-prime mortgage market.

Founded in 1850 by three immigrants from Germany, Lehman Brothers was a prominent investment bank in Wall Street for decades.