Brown pushes for Lehman Europe’s £4bn return

PricewaterhouseCoopers, the administrators for Lehman
Brothers Europe have raised questions about why £4.4bn was transferred to New
York from the bank’s London branch just before the bank collapsed.

Now the PM has stepped into the fray, telling delegates at the Labour Party
conference that he is pushing for the United States to return £4.4bn to Lehman
Brothers Europe, Reuters reported.

Gordon Brown also announced that he would visit the United States on
Wednesday to meet with global authorities and financiers to discuss the turmoil.

‘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,’ Brown
said at the party’s annual conference on Saturday.

Further reading:

urges U.S. to help repatriate Lehman cash

Lehman administration: other institutions helping

PwC: Lehman staff will be paid

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