The Fall of Lehman Brothers

September 7th, 2009

Via: Independent:

It is time to “spray foam on the runway”, Tim Geithner told his sleep-deprived officials on Sunday afternoon. Lehman was going to crash.

…

The best defence of the decision to let Lehman fail is that it shocked Congress into providing funds to recapitalise the banking system – something it might not have done without the scenes of Lehman staff carrying their boxes into the street. If the credit crisis had continued to play out slowly, largely hidden from public view, America’s sclerotic political system may never have mustered the energy to react.

Posted in Collapse, Economy, Elite, Perception Management | Top Of Page

One Response to “The Fall of Lehman Brothers”

  1. tochigi says:
    September 8, 2009 at 4:29 am

    looks interesting.
    i think i will read the article.
    when i’ve finished the Russian one.
    thanks for posting those links!
    (my fave in the Wall St. genre is still M. Lewis, at this stage)

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