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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (37133)9/17/2009 7:28:06 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Still... after Lehman's collapse Merrill was cued-up for collapse (absent the BAC forced-marriage Merrill was surely toast within the week).

And, Merrill was so intertwined in his financial relationships with Goldman that, if Merrill had collapsed Goldman was considered next in the train.

And --- absent government bailout funding --- numerous other foreign institutions (Barclay's, etc.) were sure to tip over at the height of the financial crisis.

All of which would have continued --- very, very rapidly --- to have *expanded* the breadth and magnitude of the panic, (and the subsequent macro economic damage in the real economy.)
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