While i do wish to see the reasons,the Lehman failure is a graphic demonstration of what happens. Toss in a few more large investment banks and we’d still be in October 08.
Of course,that can be ascribed to market reaction as well as anything.
“Toss in a few more large investment banks and we’d still be in October 08.”
How much of what occurred was the result of the government “fixes” ripping the rug from under the financial institutions?
I’m convinced that the various failures were a result of the government pressure on Fannie and Freddy to make trillions in worthless loans followed buy various nonsensical moves that were described as stimulus.