No, a mere 8 people did not bring Lehman Brothers down. It was a group effort to destroy the 150 year old firm. And all it took was excessive risk, massive exposure to mortgages, enormous leverage, insufficient capital.

This guy is so wrapped up in his old firm — he has no ability to see what is actually happened.

Its sad and I feel bad for the folks who worked at LEH — but this 8 guys nonsense is a crock.


Category: Bailouts, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “The Mis-Story of Lehman’s Collapse”

  1. jrm says:

    TV always oversimplifies and looks for “seven ways” and “height guys” or “10 top things” and end up saying insanities

  2. blu says:

    I am just finishing his book. His contention in the book is that Lehman’s management was warned repeatedly of the excessive debt and risk that they were taking on and of the impending doom. If they had paid heed they could have de-leveraged sufficiently to have survived the collapse, but they did not, instead accelerating in the wrong direction.