BUSINESS
10/16/2008 05:12 am ET | Updated May 25, 2011

The Government Stood Firm... Was It The Right Call?

The decision not to risk taxpayer funds to save Lehman Brothers this weekend came just as the political appetite for bailouts had reached its limits in Washington. Whether Treasury Department and Federal Reserve officials made the right decision will only start coming into focus as financial markets respond in the days ahead.

Six months ago, J.P. Morgan Chase won taxpayer support -- $29 billion of it -- to buy Bear Stearns, the fifth-largest investment bank that was on the edge of collapse. This time, dealing with the fourth-largest investment bank, Treasury and Fed officials wouldn't blink.

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