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by umangjaipuria
6487 days ago
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"In letting Lehman fail the federal government puts a fine point on an obvious question: Why didn't they let Bear Stearns go, too? This business about the markets having time to adjust to Lehman's problems is baloney. The markets didn't adjust to Bear Stearns collapse; the markets looked at what the Fed had done for Bear Stearns and assumed they'd do it for Lehman." From http://www.bloomberg.com/apps/news?pid=20601039&sid=ai1w... |
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