The Lehman Brothers failure was due to natural selection, or to the "something for nothing" ethos that pervades society today. The people running that bank thought they could make bad loans to people who can't pay them back and make money. Banks and lending firms that didn't sell out common sense to make quick money will find that they'll be okay.
Is the online editor for Philadelphia Weekly. He co-writes a weekly column for Scripps with his conservative colleague, Ben Boychuk. The views expressed here are his own.
2 comments:
Great, now Gary,the other crazy Alaskan, can claim validation.
I regret to inform you that if this is the cause of your economic worries, then you're looking in the wrong place.
The Lehman Brothers failure was due to natural selection, or to the "something for nothing" ethos that pervades society today. The people running that bank thought they could make bad loans to people who can't pay them back and make money. Banks and lending firms that didn't sell out common sense to make quick money will find that they'll be okay.
What happened to them was eminently predictable.
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