Tag Archives: Exchange Stabilization Fund

Lehman the Lemon, or Lehman the Forsaken?, by Philip Wallach

by Guest Blogger — Wednesday, June 3, 2015

Peter Conti-Brown says that the Fed’s official explanation for its failure to rescue Lehman Brothers, which blames the Fed’s legal limitations, is “pure spin,” and that “the Fed reached for legal cover when the Lehman bankruptcy turned out very differently than they had hoped. It was a political decision, not a legal one.” Under his […]