Posts tagged as:

Lehman Brothers

Foreclosure Settlement Fixes Nothing

February 9, 2012

The housing bubble was the biggest financial bubble in history.  Banks gave loans to people who couldn’t afford them, then sold mortgage-backed securities to dupes around the world.  Then, a circle firing squad of financial nitwits decided to insure the securities all along the way.  Times were good until about 2007.  By September 2008 Lehman [...]

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The Financial Mess

September 16, 2008

With the collapse of Lehman Brothers to Bankruptcy, and with Merrill Lynch being absorbed by Bank of America, our financial system is foremost on many people’s minds this week.  Add to that the federal takeover of Fannie Mae and Freddy Mac last week, and the Bear Sternes collapse earlier this year, and we have a [...]

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