Other than getting Lehman’s role in the overall crisis wrong, this is a fascinating look at Lehman’s demise:

Source:
The case against Lehman Brothers
CBS, April 22, 2012 7:03 PM
http://www.cbsnews.com/8301-18560_162-57417397/the-case-against-lehman-brothers/?tag=contentMain;cbsCarousel

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.

8 Responses to “60 Minutes: The Case Against Lehman Brothers”

  1. just-sayin says:

    Barry,
    Why do you say they got Lehman’s role wrong ?
    Seemed like a good story IMHO…. Wall St. sure has a bad smell
    coming from it.

    Cheers

  2. Frilton Miedman says:

    The disclaimer from Ernst & Young from the CBS linked article:

    “….We firmly believe that our work met all applicable professional standards, applying the rules that existed at the time.”

    - Indeed, “rules” either eliminated, or rewritten by their lobbyists.

    ” Lehman’s demise was caused by the global financial crisis that impacted the entire financial sector, not by accounting or financial reporting issues.”

    - Yup, a global financial crisis…that was caused by Lehman’s et al to begin with.

    Like Mitt Romney citing “I pay all the taxes that are legally required” when asked why he pays less than 14%, while omitting that He and Bain Capital lobbied against Chuck Grassely’s attempts to change that in 2007.

    Just playin’ by the rules, that’s all, no cheatin’, just abiding the law.

  3. G3 says:

    There is no doubt SEC is incompetent at the least. Anyone is justified at saying the Government and Obama are on the same side of Wall Street. If they don’t see it, they need to go back to high school.

  4. Frilton Miedman says:

    Oh yes, Obama was definitely asleep on the job when Lehman’s collapsed.

  5. illyia says:

    Thanks for this Barry. I would have missed it (out playing bridge).
    SEC has much to be investigated for.

  6. denim says:

    “Other than getting Lehman’s role in the overall crisis wrong, this is a fascinating look at Lehman’s demise:”

    I would like for you to flesh out Lehman’s role in the crisis. I am not at all sure that most Americans even understand the details of the “crisis” enough to even understand that a crisis was happening. I think the punditocracy obfuscated the coverage on purpose….and still does.

  7. emaij says:

    I wonder why Matthew Lee can’t find a job.

  8. [...] Barry Ritholtz, who says “Other than getting Lehman’s role in the overall crisis wrong, this is a fascinating look [...]