Lehmam collapse own fault

| 17/03/2010

(Los Angeles Times):  The bankruptcy of Lehman Bros in September 2008 is widely seen as the event that kicked the financial meltdown into high gear. So it makes sense that the report released last week by Lehman’s bankruptcy examiner should stand as the one indispensable analysis of how Wall Street almost brought the U.S. economy crashing down. The report should put to rest the claims by ex chair Richard Fuld that it was destroyed by rumours, short selling, stock manipulation and an unwarranted loss of confidence by clients and trading partners. In 2,200 pages, the examiner, Anton R. Valukas, lays out the truth in all its ugly glory: Lehman’s fall was 100% its own fault.

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Category: Business

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