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Peter Schiff - Lehman Brothers Revisited (Plus Report: Growing Ranks Of Nouveau Poor Facing Discrimination From Old Poor)

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September 18, 2009 – Comments (0)

As we pass the one year anniversary of the fall of Lehman Brothers, journalists, politicians and market analysts have seized on the occasion to offer seemingly sober assessments of what went wrong and what went right in the lead up and aftermath of the biggest financial event since Black Tuesday. 

The most popular storyline offered by these Monday morning quarterbacks is that the mistaken decision to allow Lehman to fail resulted from the Bush Administration’s misplaced faith in the free markets. In this telling, the real crises began in the days following the Lehman bankruptcy, which unleashed a financial panic that would have caused complete economic collapse – if not for the subsequent federal intervention. 

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Report: Growing Ranks Of Nouveau Poor Facing Discrimination From Old Poor:


Report: Growing Ranks Of Nouveau Poor Facing Discrimination From Old Poor

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