Update March 15, 2010: here's another article by Mike Whitney with more outrageous details about Lehman Brothers and financial collapse 2008 - or 2007, if you prefer.
And NPR is now airing an interview with Michael Lewis, author of the new book The Big Short: Inside the Doomsday Machine, and from what he's saying, Goldman-Sachs comes out smelling even stinkier than I had previously thought.
Well, pee-yewww on them all. But what honesty can anyone expect from a NYSE that was founded during a financially illusionary Jupiter/Neptune conjunction?
And by the way: today's announcement of the long-awaited financial 'reform' bill by Senator Chris Dodd today reveals that the bill intends to grant the Fed more power, not less! Well, it isn't as if I expected much improvement out of the Senator from the credit card state.
Original post begins here:
With Lehman Brothers in the news again I searched SO'W for a previous article from September 2008 concerning the Lehman Brothers crisis - of 1984, that watershed year of infamy.
From what I've heard recently on NPR, the crisis of 1984 taught the firm nothing worth passing down to the modern CEOs of a company that knew what it was practicing was fraudulent but they did it anyway.
At some point, the Brothers must have contracted a bad case of Enronitis and passed that down instead, one supposes.
You'll also find in the above-linked article a certain list of Who Really Rules the World...good to know in case you need a bailout or a credit line extension, right?