How Lehman Had Months To Save Itself | Crisis On Wall Street

After JPMorgan bought Bear Stearns with the help of the Federal Reserve, all eyes turned to Lehman Brothers. CEO Dick Fuld had months to come up with a solution, but didn’t make it happen.

Watch the premiere of the CNBC Original “Crisis On Wall Street: The Week That Shook The World” Wednesday, Sept.12 at 10pm ET/PT.

Ten years after the fall of Lehman Brothers, CNBC has produced the definitive televised account of the historic bankruptcy and cascade of events over a September weekend in 2008 that led to the worst financial crisis in generations. In this prime time original documentary, Andrew Ross Sorkin, CNBC anchor and author of the groundbreaking best-seller "Too Big to Fail," reports on how the nation and the world came as close as ever to a full economic collapse.

The story is told through gripping interviews with those at the highest reaches of the U.S. government as well as the CEOs of the nation’s largest banks who gathered to try to save Lehman Brothers from failure. Wall Street chiefs Jamie Dimon, John Thain, and others describe dramatic, around-the-clock negotiations. Former U.S. Secretary of the Treasury Hank Paulson tells of the desperate moment when he realized that a Lehman bankruptcy could bring down the world’s financial system.

Could a financial crisis of this magnitude happen again? Sorkin puts that question time and again to the people gathered for this CNBC documentary, who shouldered the fate of the world’s finances and who recall the nightmare scenario they faced down ten years ago.

"It would be breadlines across the country for a generation,” former president of the N.Y. Federal Reserve Tim Geithner told Sorkin. “We did feel that we were making choices and faced with outcomes that would be devastating to the lives of hundreds of millions of people."

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How Lehman Had Months To Save Itself | CNBC

[insightfulgarbage]

Lehman didn't lose half its value in a few months. It's the PRICE that dropped, its value was low from the moment it had too many toxic assets.

[emilianozapata]

Lehman's was the "sacrificial lamb" so that people would overlook the trillions they spent on their friends!

[anthonyrobinson]

If this tells you anything it’s that management it one of the most important factors in business

[krishnamohan]

How did his mother know about this when he was born? She gave him the right name.

[GeneDexterExperience]

They all cherry picked the best elements of Capitalism and let the U.S. taxpayer pay the part these guys lost on.

[nesiansides]

They had no intention of saving themselves, it's not there hard earned money. They sacrificed nothing and get everything... no executive or firm fraud prosecutions, claimed multiple insurance policies on assets that were worthless. Serve others before serving yourself.

[nikhilkhanke]

Lehman did know about the crisis but he did not choose to act on it becoz he did not want to roll with others it was a mortgage for god sake & who could have predicted it except for a few & he took his chances
Bearstern did knew but was too stubborn about his experience regarding the status about mortgage since 30 years & did not act on it
& the government of USA was on this they knew & turned a eye on it they r not a fool
such crisis will never follow again unless there is a fault in the system itself like this 1

[Cntr-Cmd-Delete]

Good thing they failed, can you imagine how banks would be acting if all the banks are guaranteed from failure

[jeffong]

Lehman was the investment banker representing the divestiture and they went bankrupt before deal even started

[coachb]

Who would want to buy "toxic" assets ? Who could the failing financial institutions unload these mortgages to ?

[brianellinger]

Sure.
But...
Selfish greedy crooks....

[jonathanbrotto]

Who will be sacrificed this time around?

[alduwailah]

The guy who take 485 million in bonus’s

[Julius]

Los préstamos son una gran cosa, muchas personas tienen un apartamento, una casa, un vehículo, una empresa gracias a ellos. Son muchos los factores que afectan a la economía. Decisiones políticas. Apostar por precios más altos llevó a graves crisis. La comida era inasequible, incluso para quienes la producían ellos mismos. Sequía. Centrarse en un área eclipsa a otras.

Loans are a great thing, many people have an apartment, a house, a vehicle, a company because of them. There are many factors that affect the economy. Political decisions. Betting on higher prices led to serious crises. Food was unaffordable, even for those who produced it themselves. Drought.
Focusing on one area overshadows others.

[EYTPS]

Should I make a *thanks, capitalism* joke here?





I'm not socialist, I'm just saying

[biplav]

He is acting like how Elon Musk is acting right now.

[ebayvero]

Soon this is gonna happen again
James marnley

[richardthayer]

THE MEDIA MADE IT IMPOSSIBLE TO DO A BUY DEAL BY DAMAGING THE BANKS REPUTATION AND USED FEAR MONGERING AND WEALTH SHAMING TO SECURE A HOT STORY.THEY ARE DOING THE SAME NOW WITH TRUMP AND THEY WILL DESTROY OUR BOOMING ECONOMY IF WE LET THEM.

[vkdrk]

Thanks YouTube for recommending this video now when banks are going down again and "everything is fine and under control" just like before 🫠