Oonagh McDonald

A great read, in plain English, no less. McDonald puts to rest a whole slew of half truths and misinformation about
Lehman, including the oft cited effect of the repeal of Glass-Steagall ( it wasn't really repealed) and nobody else other than Lehman among the brokers fell. She also says that Paulson could have rescued Lehman and should have; she does not understand that Paulson, as an ex:CEO of Goldman Sachs, hated Lehman and dismissed Bear Stearns as a nothing.
The final verdict is against Dick Fuld, who as the dominant Chairman, had his way period, and fired anyone who would disagree with him, as well as the lax regulatory environment of the time. She treats the regulators as the idiots they are;
neither Paulson nor Bernanke nor Geithner had a clue as to what the effect of a Lehman bankruptcy would be.… (más)