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.

Just Posted

Community-led efforts to monitor air quality in Bayview, Eastern neighborhoods gain traction

San Francisco community groups are working to install high-quality sensors in the… Continue reading

Homeless shelter opponents use attack as ammunition in fight against city

A week after being attacked outside her condo building near the Embarcadero,… Continue reading

Fire department drill finds traffic around Chase Arena could slow response time

For years, some have feared the future home of the Golden State… Continue reading

Did Scoot ‘redline’ SF neighborhoods? Chinatown group says ‘we asked for it’

The talk of the transportation world is a Los Angeles Times story… Continue reading

New hires solve SF school crossing guard shortage — for now

San Francisco has gone on a school crossing guard-hiring binge, hoping to… Continue reading

Most Read