Four Years Since Lehman Brothers, 'Too Big To Fail' Banks, Now Even Bigger, Fight Reform

Categorized | STOP FORECLOSURE FRAUD

Four Years Since Lehman Brothers, ‘Too Big To Fail’ Banks, Now Even Bigger, Fight Reform

Four Years Since Lehman Brothers, ‘Too Big To Fail’ Banks, Now Even Bigger, Fight Reform

HUffPO-

The collapse of Lehman Brothers four years ago today was the Pearl Harbor moment of a financial crisis that, over the next few months, threatened to bring down the entire U.S. financial system.

Blame for the collapse is still being debated. People bought homes they couldn’t afford, peddled by lenders who knew — or should have known — that the loans were destined to fail. Wall Street sucked up these loans and sold them off in bundles to investors, sometimes while making bets against those same products.

Everyone should have known better. At the top of this list were the government regulators who are supposed to protect the economy from Wall Street excesses, but who instead sat and watched as a bubble built of rotten subprime loans kept expanding.

After regulators forced the shotgun wedding of the investment bank Bear Stearns to JPMorgan Chase in March 2008, the Federal Reserve Bank of New York and the Securities and Exchange Commission sent teams of observers to Lehman Brothers to gather information and monitor the company’s condition. Like Bear Stearns, Lehman Brothers had invested heavily in mortgage bonds.

[HUFFINGTON POST]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8684 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

One Response to “Four Years Since Lehman Brothers, ‘Too Big To Fail’ Banks, Now Even Bigger, Fight Reform”

  1. Sarah says:

    “People bought homes they couldn’t afford, peddled by lenders who knew — or should have known — that the loans were destined to fail. ”

    People were told they could get loans on homes they couldn’t afford, by Banks. Stop defending predators.

    Banks knew, or didn’t care even though they know, the loans were designed to fail.

    HuffPo, frequent op-ed inaccuracy.

Trackbacks/Pingbacks


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives