Bo Peng

Lehman Bankruptcy: Crisis Management Via Crisis Export?

Yes, mrfreddo, Lehman bankruptcy "paid out" for the US in many ways. But it'd give too much credit to our elected and politically appointed officials if we say they saw all these and then did it. Heavens no! Otherwise we would've had the housing bubble starting at least moderating in 04. I think they were just reacting like headless chickens, as they've always done.

From the global perspective and the European perspective in particular, however, it's a sad mistake that nobody was willing to chip in a joint effort until the pain undeniably spread everywhere. Everybody was enjoying the slowly unfolding US demise. So "screw'em" is ironic, sad, yet poetic justice for all.

Work, reward, pain -- all must be shared.