This week marks the official publication of the longest, most comprehensive, and highest-priced ($32.95!) work of Crisis Lit yet, New York Times repor...
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The real lesson of the Lehman meltdown and failure may turn out to be that it was not a deep enough shock to change a political and economic system that seems to require liquidity-driven growth.
This was a Katrina-like failing. A disaster was clearly building and defenses were weak. What were the Fed and Treasury doing in those key months between Bear and Lehman?
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