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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: RockyBalboa who wrote (168904)12/4/2008 3:24:52 AM
From: tejekRead Replies (1) of 306849
 
By many accounts, Lehman´s balance sheet was so much on pure paper (and worse and outstanding principal - unearned fees from their structures.) that it could not be reasonably saved. And actually, despite the high costs to all of us, it was a strong message to the market: We can not bail out everyone. Some pruning is necessary...you don´t feed the cancer in your body, rather have a radical surgery. Right?

The message was a good one but it would have been better with a Bear Stearns than a LEH. Lehman had a reach that was global and its demise made things much worse than they already were.
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