Lehman Collapse - was the then Treasury Secretary solely responsible for bringing Lehman down?
If the government had acted before Lehman downfall the same way it did after the Lehman fall which brought down with it the entire financial system around the world, the whole world would be different today!
2009-09-14T08:37:33Z
caldude1 concludes Hank Paulson, the then treasury secretary and the former CEO of Goldman Sachs, which was a big competitor to Lehman Brothers, was responsible for the Lehman closure which is the root cause of the present financial crisis the whole world is experiencing. So, should he not be brought to justice, tried in the international court and given due punishment similar to Mad Off! He actually went MAD on that fateful day 15 September 2008!
Irascible Interlocutor2009-09-14T09:13:40Z
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Lehman Bank! Let's see now, wasn't that the bank that started out as a cotton merchant even before the Civil War?
Later, when FDR became the Democratic president (he had been governor of New York) his Lieutenant Governor, Herbert Lehman became the governor of New York. This happened just as the U.S. was sliding into a depression.
It is a long history and difficult to unscramble but it does seem that Goldman Sachs has been a republican bank and Lehman had been a democrat bank. (would it be unlikely to suppose that rival political parties would not want to pool their money together in the same bank with their opponents?) More likely they would want to pool the money together with other like minded investors who could then pursue the same financial and political goals. There, they could pool both their money and their interests.
The banks are really the fourth branch of government. Hank Paulson did his republican forebears a favor by bailing out Goldman and not Lehman.
Examine how Dick Cheney as republican CEO of Haliburton merged with republican dresser industries (another oil services firm with ties to prescott bush, and George Herbert Walker Bush to save them from bankruptcy). The Bush family money had began with Dresser Industrys. George Herbert Walker Bush named a son after his boss at Dresser, Neil Mallon. Bush even received a Neil Mallon Award from Dresser Industries. There must have been some Bush money there that Cheney decided to save as the company faced a large liability suit for asbestos and may have gone bankrupt. Cheney's merger with them saved them.
I wouldn't say he was soley responsible. It is the pattern they all seem to follow. If your ancestors money was all in the bank of washington D.C. and you were in power, would you let the bank of washington D.C. fail?
What would you do if all of your opponenets ancestors money was in the bank of washington D.C.? Would you let it fail?