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by momofuku 1151 days ago
For the life of me, I'm not able to understand why none of these lists include Lehman Brothers?

A commenter below posted:

>Lehman Brothers is also not included because, even though it was a US bank, it was an investment bank with no FDIC insured deposits. It was around the size of all of this year's failures, combined.

So does this mean, that since Lehman had no customer deposits, it doesn't count?

3 comments

Lehman had no FDIC-insured accounts. So it shouldn't be included in a list of failures managed by the FDIC, because it wasn't.

The liquidation of Lehman was handled by the Treasury department (and a bankruptcy court), not the FDIC, and Congressional involvement was necessary to pass a bill to finance the resulting "bailout". The FDIC maintains its own fund to pay back depositors.

It might sound like a pointless technicality, but it's really not. It would be like asking why an NHSTA report doesn't include plane crashes.

Well, they're visualizing a dataset from the FDIC. So, it's more like it doesn't count due to a technicality. It's not clear to me if there's an "official" dataset that includes all non-FDIC institutions.
For this dataset, yes. It's only got deposit banks (afaict)