Monday, September 15, 2008

Lehman: the bank that wasn’t too big to fail

Lehman: the bank that wasn't too big to fail

Many people assumed Lehman was 'too big to fail' - that there would be another government bailout. But no - this time the market will have to deal with the mess itself. And as Lehman's bones are picked over, it will become clear to us all just how badly damaged the financial system is.

Posted by damien @ 11:21 AM (528 views)
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2 thoughts on “Lehman: the bank that wasn’t too big to fail

  • last_days_of_disco says:

    I think this is an excellent article as we have come to expect from John Stepek.

    He points out the newspeak that the banks have been trying to get away with the “too big to fail” thing is nonsense.
    I think the banks actually believed it. That is why they are so shocked that the US government actually is daring to
    tell them otherwise. Its going to be a rocky road and I reckon some of the heroes of this bubble are going to get it
    in the shorts spectacularly. I think it will embolden administrators in all governments to take a much tougher line with
    the banks which in the medium/long term is good news for us all.

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  • I suspect our own government has a list of banks/building societies who they will be prepared to bail out and those that will be left to fend for themselves, the skill is ensuring you have your savings stashed in one of the winners.

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