From coast to coast, millions of dollars of corporate art that once hung in the offices of well-known banks including Lehman Brothers, Washington Mutual, Wachovia and more, has become entangled in the fallout from the financial crisis.
The fate of that artwork is still being sorted out, along with the assets involved in many of the unprecedented bank failures and resulting mergers that took place last year. Some of the surviving financial institutions appear to be holding onto the valuable artwork for their own collections, despite the chance to cushion their coffers with its sale. Others are selling the art or donating it to local museums and nonprofits.
A very interesting article on the subject online at Portfolio.com
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