Lehman Brothers…………Time to Fail

According to the New York Times and otlher sources, Lehman Brothers Hold Corp. will file for bankruptcy protection sometime tonight in Federal Court in downtown Manhattan. Sec. Of Treasury Paulson has said adamantly that taxpayer money will not be used to save Lehman, this time, if you listen to Paulson, its not too big to fail.

In my opinion the question instead should be; is it [Lehman] “too big to save”, especially with Merrill now offering itself to Bank of America, AIG scrambling for cash and Washington Mutual, the biggest thrift in the US, being rumoured to be on the brink of failure, one has to wonder why the Treasury is saving any bullets it has left……………..maybe they see a bigger problem on the horizon? While all this is happening, the man than controls the money in the biggest economy in the world, Ben Bernanke is oddly quiet……..?

 

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