The Fed and Lehman Brothers : setting the record straight on a financial disaster

The Resource The Fed and Lehman Brothers : setting the record straight on a financial disaster
Label
The Fed and Lehman Brothers : setting the record straight on a financial disaster
Title remainder
setting the record straight on a financial disaster
Statement of responsibility
Laurence M. Ball, Johns Hopkins University
Creator
Author
Subject
Language
eng
Summary
The bankruptcy of the investment bank Lehman Brothers was the pivotal event of the 2008 financial crisis and the Great Recession that followed. Ever since the bankruptcy, there has been heated debate about why the Federal Reserve did not rescue Lehman in the same way it rescued other financial institutions, such as Bear Stearns and AIG. The Fed's leaders from that time, especially former Chairman Ben Bernanke, have strongly asserted that they lacked the legal authority to save Lehman because it did not have adequate collateral for the loan it needed to survive. Based on a meticulous four-year study of the Lehman case, The Fed and Lehman Brothers debunks the official narrative of the crisis. It shows that in reality, the Fed could have rescued Lehman but officials chose not to because of political pressures and because they underestimated the damage that the bankruptcy would do to the economy. The compelling story of the Lehman collapse will interest anyone who cares about what caused the financial crisis, whether the leaders of the Federal Reserve have given accurate accounts of their actions, and how the Fed can prevent future financial disasters
Member of
Cataloging source
DLC
Dewey number
332.660973
Illustrations
illustrations
Index
index present
LC call number
HG4930.5
LC item number
.B35 2018
Literary form
non fiction
Nature of contents
bibliography
Series statement
Studies in macroeconomic history

Context

Context of The Fed and Lehman Brothers : setting the record straight on a financial disaster

Work of

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