Relevant:
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- Four Years Since Lehman Brothers, 'Too Big To Fail' Banks, Now Even Bigger, Fight Reform
- Bear Stearns Hedge Fund Losses Lead to Arbitration Claims, According to Law Firms Representing Investors
- Culture of Deceit: Why Dick Fuld So Needlessly and Recklessly Perjured Himself Before Congress
- Lehman expected CDO market to worsen
2008-09-15 — atimes.com
The failure of Lehman and Bear Stearns does not reflect the breakdown of a particular kind of corporate culture. As noted, the two firms embodied radically diverse views of corporate culture. What took both firms down, rather, is a sudden break in the chain of expectations between the present and the future. Today’s savers no longer can have any confidence that they will earn enough to fund their retirements by putting money at risk. They have discovered that in one form or another, their investments have fed a securities market bubble rather than the creation of value.
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