Deamonopolis wrote:In that regard, the collapse of Lehman Brothers and Bear Stearns was exceptionally convenient for Goldman Sachs. And incidentally, did you know LB and BS didn't participate in the bailout of LTCM in 1998? Without their capital, other banks had to bear quite bit of additional loss, and the fact there was bad blood between Lehman and Goldman wasn't exactly a Wall Street secret.
It's an open secret on Wall Street that then Secretary of the Treasury, Hank Paulson (a former Goldman executive), hated Dick Fuld, the CEO of Lehman Brothers. Read Dick Fuld's accounts of the collapse of Lehman, and he is strongly of the belief that Paulson fucked him.