The Fed and Lehman Brothers, setting the record straight on a financial disaster, Laurence M. Ball, Johns Hopkins University
Type
Label
The Fed and Lehman Brothers, setting the record straight on a financial disaster, Laurence M. Ball, Johns Hopkins University
Language
eng
Bibliography note
Includes bibliographical references and index
Illustrations
illustrations
Index
index present
Literary Form
non fiction
Main title
The Fed and Lehman Brothers
Nature of contents
bibliography
Oclc number
1010970425
Responsibility statement
Laurence M. Ball, Johns Hopkins University
Series statement
Studies in macroeconomic history
Sub title
setting the record straight on a financial disaster
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
Classification
Creator
Subject
- 2008-2009
- Global Financial Crisis (2008-2009)
- Lehman Brothers
- Investment banking
- Financial crises -- United States
- Investment banking -- United States
- Global Financial Crisis, 2008-2009
- Bank failures + Law and legislation
- Bank failures
- United States
- Financial crises
- Bank failures + Law and legislation -- United States
- Bank failures -- United States
Content
Author
Is Part Of
Mapped to
Incoming Resources
- Has instance1
Outgoing Resources
- Classification1
- Creator1
- Subject13
- 2008-2009
- Global Financial Crisis (2008-2009)
- Lehman Brothers
- Investment banking
- Financial crises -- United States
- Investment banking -- United States
- Global Financial Crisis, 2008-2009
- Bank failures + Law and legislation
- Bank failures
- United States
- Financial crises
- Bank failures + Law and legislation -- United States
- Bank failures -- United States
- Content1
- Author1
- Is Part Of1
- Mapped to1