Word: lehman
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...year ago today, the venerable investment-banking firm Lehman Brothers filed for bankruptcy protection after the Federal Reserve and the Treasury Department pointedly refused to bail the company out, and no other Wall Street outfit was willing to step into the breach. It was the largest bankruptcy ever in the U.S., but the really big news was what happened afterward. First came a financial panic that threatened to shatter the global capitalist order, then came an unprecedented, and unprecedentedly expensive, effort by governments on both sides of the Atlantic to patch things...
...already knew all this, of course. It happened just last year, and in recent days the news media have engaged in an orgy of commemoration and explanation of the Lehman collapse and its aftermath. So here's the $64 trillion question: What, if anything, have we learned from the experience? (See the top 10 financial collapses...
...losing to the fourth seed in the first-round and the eventual consolation draw winner in her next match. Another freshman, Sophie Chang, won the Flight D championship, downing Kristina Koprcina of Marshall in the finals 6-4, 6-2. In the semifinals, Koprcina ousted Harvard freshman Alex Lehman 7-6, 4-6, 6-4 to prevent an all-Crimson final. Overall, the Crimson dominated the singles draws, coming away with championships for Flight A, Flight C, and Flight D. “We had quite a few people make it to the finals, so we had a very strong...
...fair. “It’s definitely more personal than e-recruiting.” The ongoing effort to diversify the fair has been aided in recent years by the absence of major banks like Goldman Sachs, and the now defunct Lehman Brothers. A sea of bodies, clad in dress-for-success garb navigated the five industry “neighborhoods,” including representatives from “science and tech,” “marketing, media, retail, and entertainment,” and “government, nonprofit, and education...
...have always known that heedless self-interest was bad morals," FDR said in 1937, in the midst of the Great Depression. "We know now that it is bad economics." We learned this all over again after the collapse of Lehman Brothers, the shame of subprime mortgages and the brazen Ponzi scheme of Bernie Madoff. But even amid the Great Recession of 2009, people have been trading in their SUVs for Priuses, buying record amounts of fair-trade coffee and investing in socially responsible funds at higher rates than ever before. What we are discovering now, in the most uncertain economy...