Lehman was leveraged 80 to 1. They lied about the value of their assets, they lied about the huge risk they took.
By Daniel at 8 September, 2009, 1:33 am
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I’m sorry but I don’t feel sorry for them one bit. They deserved to go bankrupt. They had a narcissistically CEO and punk ego-stroking managers running around like rabbits on crack. It is just pathetic that one year later I do not think we have learned anything from the collapse of Lehman. We have committed trillions of we don’t have another “lehman” collapse and it has gotten us nowhere!! The economy has recovered? Oh really… tell that to the millions without a job and the millions of small business owners running on skeleton crews and closing up shop to the “global power players!” Wall Street still thrives on corrupt and deceptive practices, which play havoc with trust, confidence and integrity.
To put it another way, the U.S. government and its dysfunctional relationship with major bankers (cronies), along with their global counterparts, are giving what’s going to amount to trillions of taxpayer dollars to bailout the richest 1 percent of the people. Let the sons of a @#$%&! go bankrupt! These piece of craps running around on Wall Street won’t ever take responsibility for their own actions its always blamed on some other outside force. Failure is nature’s way of saying “Don’t do that any more!” and is therefore a necessary part of achievement and innovation!! And to answer the question would saving Lehman Brothers made a difference? HELL NO. Saving all these other jokes like Citi, Morgan Stanley, AIG, and Wells Fargo has just added to the total bull @#$%&! this economy now has to overcome!
ImpendingDoom
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