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September 6, 2010

Is the Economy as Broke as Lehman Brothers Was?

Michael Hudson, Michael Hudson

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Tags: Debt, Deregulation, Financial sector

The Angelides Committee Sidesteps the Mortgage Fraud Issue

What is the difference between today's economy and Lehman Brothers just before it collapsed in September 2008? Should Lehman, the economy, Wall Street "“ or none of the above "“ be bailed out of bad mortgage debt? How did the Fed and Treasury decide which Wall Street firms to save "“ and how do they decide whether or not to save U.S. companies, personal mortgage debtors, states and cities from bankruptcy and insolvency today? Why did it start by saving the richest financial institutions, leaving the "real" economy locked in debt deflation?

Stated another way, why was Lehman the only Wall Street firm permitted...

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TAGGED: Michael Hudson, Lehman Brothers, economy

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