Well now.

The current news is that Lehman’s good assets are being sold: Lehman, Workers Score Reprieve – WSJ.com

I wonder exactly what the bankruptcy costs will be. Perhaps we have the efficient outcome here. After all, there are lots of groups who were profitable in that firm, so just kill the ‘bad bank,’ but keep the good assets going.

My understanding is Lehman they took a big bet on real-estate in the last few months; the firm increased real-estate exposure over the last few months. They lost.

AIG, however, seems to be Systemic risk – Wikipedia, the free encyclopedia.

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