Banking, finance, and taxes
Former Fed Official: Let Lehman (LEH) Rot
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Whatever sympathy there might have been for Lehman (LEH) is quickly slipping away. The calls for the federal government to stay out of the matter and let the investment firm fail on its own are increasing.
According to Bloomberg, William Poole, former president of the Federal Reserve Bank of St. Louis, said the U.S. central bank and the government shouldn’t provide funding for any purchase of Lehman Brothers Holdings Inc. by another bank.
It sounds like Poole will not even be sending a "Get Well" card.
Douglas A. McIntyre
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