David D

The Weakness of the Treasury's New Bailout Plan

When The First National Bank of Ben and Hank decided to let Lehman go, the brainthrust did not completed understand the consequences. Had the decided to follow the Barclays Capital plan, they would have given the same program as JPM/Bear, except $40 billion. AIG would have only needed a loan of about $40 billion, not $122 billion. The FNB Ben and Hank would not be shoving capital up the banks rear, and the credit markets would have still been trustworthy. Finally, had Lehman survived, the $700 b would be going to fix the troubled assets, not the troubled financial system.

I hope Ben and Hank will no be remembered as saviors, but as the one that created the problem with letting Lehman go.

I don't work at lehman and I did not own lehman. I have no personal ax to grind, but that is the reality of the situation!