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Bailouts and buyouts

cjsmith

Wednesday, September 17th, 2008 06:47 am

Bear Stearns got a government-orchestrated purchase.
Fannie and Freddie got a Federal takeover.
Merrill Lynch got a government-orchestrated purchase.
"The free ride is over", people said as Lehman was left out to hang.
But today AIG got an $85 billion Federal bailout.

What's with Lehman? Did Dick Fuld piss off Henry Paulson or something?

Current Mood: curious

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cjsmith.livejournal.com

Wednesday, September 17th, 2008 02:39 pm (UTC)

Ahh, so part of it is how tied in they are to the other surviving linchpins?

I do know Lehman had some offers earlier in the summer and turned them down, thinking they could do better. Guess they lost that gamble.