Word: lehman
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Dates: during 2000-2009
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...Saut, chief investment strategist at Raymond James. "What it is, is a sequence of events that have brought us into crash mode." Saut traces that sequence of events from the nationalization of Fannie Mae and Freddie Mac, which wiped out the stockholders of those institutions, to the collapse of Lehman Brothers, which did the same to that company's investors, to the run on money-market mutual funds, to the run on Washington Mutual, to the House's unexpected failure to pass the bailout bill the first time around...
...Another possible repercussion: a reexamination of the freewheeling, free-market practices - what the French like to call "Anglo-Saxon capitalism" - that led to this crisis. French President Nicolas Sarkozy kicked off that debate as Wall Street was reeling from the collapse of Lehman Brothers and Congress was first debating the bailout package. In a speech in Toulon on Sept. 25, he said the crisis marked "the end of a world that was built on the fall of the Berlin Wall and the end of the Cold War - a big dream of liberty and prosperity." As for capitalism, he called...
...Weiss believes these banks are far less likely to run aground than the panic-induced price of credit-default swaps would suggest. But since the demise of Bear Stearns and Lehman Brothers, "people have no idea how sound banks are," he says, so "the whole financial system is locking up." The U.S. government's rescue plan should help, and Weiss thinks there's a fair chance that the busted assets it's buying to prop up the system will rise sharply in value as everything stabilizes. But he's by no means confident that the $700 billion bet will...
...have heeded your warning. But this was Commencement, and your audience was too busy thinking of all the drunken Facebook photos they would have to de-tag before moving to Manhattan. They were gone, President Faust, but at that moment you figured that by crippling Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, AIG and WaMu you could save future Harvard students from pursuing careers they cared little about...
...people who will truly benefit from Operation Painting Wall Street Crimson are us Harvard students, starting with the Class of 2009. This past summer, some of our present seniors were resigning themselves to getting into bed with one of the Lehman Brothers. Now that you have shot them all dead, President Faust, these students are free to dream big again. They will think of taking that internship with The Times, or moving back home to Michigan to help their depressed community, or continuing their cancer research, and out of the ashes of greedy Wall Street a hundred little Timmys will...