Is Lehman Brothers the creator of the crisis?

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Gord.Barker's picture
Gord.Barker
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Joined: Mar 2 2009
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Is Lehman Brothers the creator of the crisis?

Recently, there have been several "documentaries" on the tube acknowledging the first anniversary of the current financial crisis.  That is of course, the fall of Lehman Brothers.  This is being made out to be the single event that started all the credit crunch and the unravelling of the financial circus.

I don't really remember this being so simple.  Although I acknowledge that the fall of Lehman had a chilling effect on credit to me it looks as if everyone expected the government to bail LB out and when they didn't the major players all crapped their pants.

Then there were all the naked short selling stores that bloomberg (http://www.bloomberg.com/apps/news?pid=20601109&sid=aB1jlqmFOTCA) where a total of 32.8 million shares were traded but not delivered as of September 11.

Was this an attempt by someone(?) to take out the #4 bank with stock maniuplation, make a obscene amount of money all the time being backed by the government because to big to fail was still being believed by everyone?

Is this revisionist history being flogged or was it just that simple and I misunderstood?

 

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