Lehman Brothers

    Let’s Try This Another Way: The Bleeding Begins

    By: Francis Cianfrocca (Diary)  |  September 15th at 06:15 AM  | 

    As I described here, this is the weekend that the Treasury and the Federal Reserve decided to stop bailing everyone out. Secretary Paulson has been hinting for weeks now that we have to let capitalism work the way God intended it to. Which means: if you screw up, you die. This is what we free-market conservatives have been saying we wanted all along, folks. We’ll | Read More »

    Turmoil on Wall Street: A News Roundup

    By: Francis Cianfrocca (Diary)  |  September 14th at 08:13 PM  | 

    Ladies and Gentlemen, I’ve been faithfully chronicling the global credit and financial crises for you since the first cracks started appearing in early summer of last year. Tonight, with the almost-certain collapse of the investment bank Lehman Brothers, the crisis moves into a new and possibly very dangerous phase. I’m going to keep you up-to-date on the key developments over the next few days, or | Read More »

    Stand By For The Next Federal Bailout

    By: Francis Cianfrocca (Diary)  |  September 13th at 01:35 PM  | 

    It’s been widely reported that Timothy Geithner (the President of the New York Fed) summoned a group of Wall St. and banking CEOs to a pow-wow in lower Manhattan on Friday evening, with Treasury Secretary Paulson in attendance. The subject: Lehman Brothers, the 158-year-old investment bank which is in dire need of new capital, partly because of losses in its large portfolio of commercial (not | Read More »