Lehman blames its collapse on gov’t for not bailing it out

From Barrons:

[Lehman Brothers CEO Dick] Fuld places the blame for the swirling inaccuracies at the time with the Federal Reserve, which failed to open the financing window to Bear Stearns in 2008 before that firm failed, resulting in wild speculation about Lehman later in the year.

The Fed and the government declined Lehman’s pleas for various assistance that Fuld implies might have saved the firm, including banning naked short selling and converting Lehman into a bank holding company.

And I blame Washington for neither of my books being best sellers — had Bush offered a 400% tax credit for purchase of The Big Ripoff, I might be living in Chevy Chase now.

BailoutsBeltway ConfidentialFederal ReserveUS

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