Thread: Bankruptcy
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Old 09-29-2022 | 08:11 PM
  #1267  
nene
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Originally Posted by Tranquility
Where do you get your info?! Lehman went belly up in September 2008. Bear was bought with MASSIVE govt help in March…. Nearly 6 months before Lehman was allowed to go bankrupt. Your timeline is off, and, BoA didn’t get the “Jamie deal” by acquiring Merril…. They did it out of convenience.
Well it was off the top of my memory, which apparently had them out of order.

I just remember them letting Lehman go under, without any govt assistance, which was surprising at the time. As I recall, BoA may have not gotten the "Jamie deal" but there was much govt/political maneuvering to make the Merrill deal go through.

Bottom line was the fed was very interested in making sure these banks did not just collapse under their previous poor decisions as that would very probably lead to a cascading effect throughout the banking sector.
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