dougnhi

Lehman: Victim of F&F Bailouts Plus the Bystander Effect

Why would anybody want this company? Only because if they don't, the level 3 assets on their books will have to be sold, at which point the mark-to-market value of all this toxic waste will be discovered. That, and the insurance swaps, will ripple. The Fed has opened pandora's box with each successively larger public taxpayer funded bailout, and now moral hazard has gone terribly wrong. The best thing for everyone is the least intuititve.....let them fail! Until we reassert that stupid decisions will incurr real losses, we can't have a healthy and fair market. Let's hope cooler heads prevail, and that taxpayer money won't be used any more. We have PLENTY of public debt already...we don't need Paulson and Bernanke backing up the truck anymore.