Word: lehman
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Dates: during 2000-2009
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...going to have a global credit collapse," said Simon Johnson, a former chief economist of the International Monetary Fund who teaches at the Massachusetts Institute of Technology and whose blog, Baseline Scenario, has become essential reading for crisis buffs. The Federal Reserve and Treasury left creditors at Lehman Brothers adrift in September, and the repercussions were so dire that regulators resolved not to let such a thing happen again...
...general manager. “We used to do a lot of private dining with financial firms,” Law said, adding that one firm in particular has been on a leave of absence. “We don’t see as much of Lehman Brothers.” At Chez Henri, it’s been business as usual. “Our recruiting has been okay,” said dining room manager Christy Leveroni. The restaurant still hosts a few recruiting events, including some for Harvard Law School students. But for establishments that rely...
...early last September you'd parked outside Lehman Brothers' Manhattan headquarters with a cell-phone scanner and listened only to some of the "chatter" coming out of Lehman's front office, you almost certainly would have realized that Lehman was going under. But to understand the wider consequences, how capitalism was about to do a somersault into the watery abyss, you would have needed to understand how Lehman fit into the global financial system. (Of course, listening to cell-phone conversations with a scanner in this country is flatly illegal. And you need a sophisticated decrypting device to listen...
...will--14 smallish banks so far this year. The tough questions have to do with the banking giants. Regulators deem them too big to be sold off or shut down according to standard FDIC procedures without risking another market breakdown like the one that followed the collapse of Lehman Brothers. The Obama Administration has already said it will buy shares in banks that need more help, and is negotiating a deal that would give it a big minority stake in Citigroup. But it has so far dismissed suggestions that it should take full control of Citi and other big banks...
...might think that this kind of entertainment would have died with Lehman Brothers. But as the U.S. economy sank this winter, Bravo's series scored their highest ratings ever. As the parade of CEO hearings--slash--public shamings on Capitol Hill has shown, and Bravo underscores, the wealthy may not be universally loved, but they're America's favorite spectacle...