Downward Mobility

Lehman Art Sell-Off

Want a good example of Wall Street’s excesses during its golden era? Before its implosion, Lehman Brothers collected more than 3,500 works of art. Enter the schaudenfreude: The bankrupt investment bank will now try to sell at least $8 million of its collection. This news comes on the same day that $20 million of Lehman CEO Dick Fuld’s postwar art collection, which includes De Koonings, Newmans, and Gorkys, is scheduled to hit the market at Christie’s.