'Mal den Henry "Hank" PAUSLON ordentlich durchgerüttelt hätte in rückblickender Betrachtung gerne der Herr John A. THAIN. - Was daran real ist und was nur wohlfeil nachgereichte Quackophonie, geht aus dem Artikel zwar nicht hervor, der aber gleichwohl Lesens-wert bleibt:
February 11, 2011, 3:54 PM EST
Thain Says He Should’ve ‘Grabbed, Shaken’ Paulson
By Hugh SON:
"Feb. 11 [2011] (Bloomberg) -- Merrill Lynch & Co.’s former Chief Executive Officer John A. Thain said Wall Street leaders should have tried harder to convince U.S. regulators they needed to prevent the failure of Lehman Brothers Holdings Inc.
Banking chiefs weren’t “strong enough” during 2008 meetings in insisting that then-Treasury Department Secretary Henry Paulson reverse his opposition to a U.S.-led rescue of Lehman, Thain told the Financial Crisis Inquiry Commission, according to audio files released yesterday.
Lehman, based in New York, filed the largest bankruptcy in U.S. history, roiling markets and helping contribute to the bailout of insurer American International Group Inc. and the purchase of Merrill by Bank of America Corp. Days before Lehman’s September 2008 collapse, Paulson convened CEOs including Thain, Lloyd Blankfein of Goldman Sachs Group Inc. and Jamie Dimon of JPMorgan Chase & Co. to try to get the banks to help fund a rescue.
“We collectively, the group of us, we should have just grabbed them and shaken them and said, ‘Look, you guys cannot do this,’” Thain told FCIC interviewers in a Sept. 17, 2010, interview. “Allowing Lehman to go bankrupt was the single biggest mistake of the financial crisis.”
The banking executives, their firms weakened by the crisis, couldn’t be persuaded to contribute about $20 billion to backstop Lehman’s bad assets, Thain said. Had the U.S. provided that support, the $700 billion Troubled Asset Relief Program may not have been needed, he said. Barclays Plc or Charlotte, North Carolina-based Bank of America probably would have bought Lehman’s profitable operations, he said"...
SOURCE / LINK / QUELLE dieses Ausschnitts:
http://www.businessweek.com/news/2011-02-11/...ed-shaken-paulson.html -----------
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