Sunday, September 06, 2009

Lehman Brothers, the bank that bust the boom...

The collapse of Lehman Brothers, a year ago this week, was the biggest bankruptcy in corporate history. It was 10 times the size of Enron and, more crucially, the tipping point into the global crash, provoking panic in an already battered financial system, freezing short-term lending, and marking the start of the liquidity crisis.

Yet searching questions remain unanswered. Authorities had intervened on both sides of the Atlantic to rescue a litany of stricken institutions, from Northern Rock to Bear Stearns, and mortgage companies Fannie Mae and Freddie Mac, so why let Lehman go down? And was a rescue by Barclays effectively blocked by the UK authorities?

Now, for the first time, many of the key players involved reveal what really happened on that extraordinary weekend last September. Their accounts provide a unique window into the closed world of how politicians, central bankers and CEOs battled to stave off what one of those involved called "Armageddon"… More...

Don't miss:

  1. Lehman Bros head took home $300m!!!
  2. Billions in bonuses for bailed-out bankers...
  3. "Goldman Sachs has engineered every major market manipulation...
  4. Top Freddie Mac executive David Kellermann dead in suspected suicide...
  5. Bernard Madoff sentenced to 150 years jail term...
  6. The greatest scam in the history of the world...
  7. William Black tells Moyers how the fraudsters cover-up...

2 comments:

  1. interesting I would really like to see a rebound on this recession stuff any day soon because I am feeling empty on many of my investments.

    ReplyDelete