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by mywittyname
1150 days ago
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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. |
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