$138b Lehman (secret) Bailout

December 2008

News just out in the DealBook that the Fed actually DID lend money to Lehman just before its collapse–contrary to Hank’s claims that they had no legal authority to do so.  Hank, what are you doing?  Your credibility is critical to the salvation of this economy.  Come clean.  From the European perspective, this is one more nail in the coffin of US credibility.   But as one dinner companion said, “That coffin doesn’t need any more nails.”

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