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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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dcart.livejournal.com

Wednesday, September 17th, 2008 09:43 pm (UTC)

It doesn't seem to be getting as much press, but there are still several other large banks that are looking at buying Lehman. Barclay's is supposedly the likely contender. Lehman can keep functioning for a while under bankruptcy protection while that all gets worked out. As someone else said above, Lehman wasn't quite "too big to fail".

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