It’s not looking good as Lehman Brothers bank were unable to agree upon a deal to be bought out by Bank of America. There is already quite a bit written about the lehman brothers bankruptcy so I dont really want to get into that here. I am just wondering how this all happened and more importantly why. The mortgage crisis has gotten completely out of control. It’s hard for me to imagine that this whole thing was caused in large part by shady mortgage brokers gaming the system but it appears that that is the case.
The Lehman Brothers bankruptcy is just another financial disaster in a string. Bears and Stearns was bailed out by the government then fannie may and freddie mac. Merrill Lynch was just bought out at $29 per share and was brokered by the gov.
This is certainly a disturbing pattern of disaster! This could very well lead to all out depression. The Lehman brother bankruptcy has been looming over our heads all weekend and the asain markets are already begining to fall. Alot was riding on the outcome of this last weekends conference regarding a possible buyout and rescue of lehman brothers.
Should the government have bailed out lehman too?
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The way Dick Fuld behaved, some may say they got what they deserved.
that’s interesting
Great post. Keep up the good work.
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