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A parasite turns out its toes

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September 15, 2008 – Comments (0)

If the industry pundits are right, LEH should make the world a better place tomorrow morning by going belly up. They were a major player in the financial bubble that made dirt cost like gold, taking cheap houses off the market and cheating millions of first-time homebuyers out of hundreds of thousands of dollars. Luckily, in a final act of poetic justice they swallowed some of the rat poison they were peddling to others, and got a taste of their own medicine. I am happy for the LEH employees who will get the pink slip tomorrow. Hopefully, some of them have ARM mortgages to pay and will contribute to the foreclosure inventory. And let's hope they face a tough labor market. 

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