Lehman’s collapse was an unanticipated, unknown event set up by the pre-existing toxic cocktail of the sliding US economy and other issues — so the World Bank is wrong to predict the same kind of results this time round, writes Glenn Dyer and Bernard Keane.
Lehman brothers
Maley: the EU debt clock ticks down
With time fast running out, German chancellor Angela Merkel and French president Nicolas Sarkozy again held emergency talks overnight in an attempt to settle their differences before Sunday’s crucial summit of European political chiefs.
Macquarie loses its competitive edge as earnings slump 25%
Macquarie’s worsening performance and lacklustre return on equity is the inevitable result of a business that has lost its primary competitive advantage.
RBA: still risks aplenty coming from offshore
Just as global markets staggered for a third day this week after the technical fault-driven shock of a 900-point fall in the Dow, the Reserve Bank has highlighted the risks still coming from offshore.
Business As Usual: Retail on the up, says ABS … inflation forecast at 3% … Freddie and Fannie still asking for handouts …
RBA alludes to new inflation figure … Freddie Mac and Fannie Mae are still struggling with huge debts … Car sales, especially diesels, are going from strength to strength … China worries about inflation … Newsweek’s slumping sales are leading to a “for sale” sign for the masthead …
exposed 
Lehman’s debt mule
Lehman Brothers ran an “alter ego” company called Hudson Castle to hide its risky subprime mortgage investments for years before its collapse, the New York Times reveals.
Lehman execs: Hiding US$50b is no big deal
Lehman Brothers’ was found to be using a dodgy accounting trick to keep US$50b off the balance sheet for each quarter and all the execs involved could do was just shrug their shoulders and ask “and?”, says NY Observer.
Business As Usual: Moody’s fingers problems in the eurozone … Woes for Lehman auditors …
It looks as if Greece will be supported and stopped from defaulting on its billions of debt, Lehman Brothers sacked a whistle blower just weeks after he raised concerns about accounting practice, the Tiger Woods circus is about to hit the road again, and more business briefs.
Business As Usual: Lehman launches repayment plan … Indian revolt hits housing prices …
Lenhan has announced plans to repay a lot of money, but it’s a move likely to make the lawyers rich, the US job market may soon experience a spike, how food prices will affect inflation in the US, and more business briefs.
Lehman con makes Ponzi master look like an amateur
The $US138 billion con pulled by Lehman Brothers makes New York Ponzi scheme master Bernie Madoff’s swindle look like pocket change.
Lehman: taking ineptitude to a whole new level
The final autopsy report on the death of Lehman Brothers is in: the top chief was even more dodgy and inept than previously thought, with an accounting gimmick covering up the true size of the Lehman bank sheet.
The real housewives of Lehmans Brothers
Vanity Fair has a fascinating historical expose on the wives of Lehman Brothers, a closed society of women who “belonged to the firm”, with backstabbing, expensive clothes and absent husbands.
Guy Rundle: Greece, the birthplace of the second wave of the GFC
The European Union has given Greece until the end of February to tell it what it already knew — that its accounts are Swiss cheese.
No sympathy for British wankers … err bankers
British bankers are upset at having their bonuses taxed a year after many were rescued by taxpayer money from the biggest financial mess they had helped create in decades. Who would ever have thought that?
Why Swan was right on stimulus
It made sense for policy makers everywhere to use all available counter-cyclical tools in an urgent attempt to lessen the serious risk of economic disaster, says Rory Robertson. But the economy story is not all good.
A year after Lehman … crisis what crisis?
A day before the 12-month anniversary of the collapse of Lehman Brothers and questions remain. Is the era of growth fetishism really over or is it just taking a break?
Cheap money fuels takeover splurge
The past week has seen two big takeover attempts that tell us that the financial alchemists and spin doctors are out peddling their wares again: last week it was Disney and Marvel, overnight it was Kraft bidding for Cadbury.
Stimulus package ‘blow out’ worth it
PM Kevin Rudd needs to convince voters that the economic stimulus package did stave off recession, even with its issues of money wastage and poor service delivery, says Phillip Coorey.
Lehman Brothers’ downfall: the inside story
A new book recounts the spectacular rise and fall of Lehman Brothers, whose demise ended in the largest bankruptcy filing in US history.
Nine reasons for pessimism
While the rate of contraction in the global economy may be slowing, we’re not out of the woods yet, writes Nouriel Roubini.
The True Story of a working family
Once upon a time at the Woodcutter’s house…
Lehman Brothers and the prophecies of doom
Think that Lehman’s collapse was due to its balance sheet’s reliance on repackaged sub-prime mortgages? Think again, writes Michael Feller.
As Wall St workers go down blogging, Lehman bros merch hits eBay
The chatter on the web about the collapse of Lehman Bros and the bailout of AIG offers a fascinating snapshot of the chaos on Wall St that goes beyond the obligatory shots of employees carrying cardboard boxes…
Wall Street II: Australia will lose billions on AIG and Lehman
Malcolm Turnbull’s opening two salvos in Question Time yesterday were right on the money, writes Stephen Mayne.
