Klein proceeded to explain, in the most delicate way possible, Barclays’ plan, which everyone in the room instantly realized meant that an industry consortium would have to come up with some $33 billion to finance ShitCo, or as Klein kept describing it to people, “RemainderCo.” For the other banks, this would be less an investment in Lehman or Barclays than it would be in themselves, hoping to stave off the impact of a Lehman failure.
