Sunday, September 13, 2009

The Last Days of Lehman Brothers

A BBC production of the last days of Lehman Brothers is a must see. You have to read between the lines a bit, but the production shows how Treasury Secretary Paulson treated Lehman different from the way he handled others that had just as many problems as Lehman. In a nice touch, the BBC hints that Paulson tipped off former Goldman man, and then Merrill CEO, John Thain, of the trouble ahead----which was behind Merrill's sale to Bank of America.

The dramatization does a nice job of showing Thain's style in landing an incredible $29 per share for Merrill from Bank of America in the middle of the crisis.

The dramatization is an hour long, but after you see it once, you are going to want to see it again. It gives a real solid inside feel and is very accurate as far as all the public facts. Except for the Geithner character, there is great casting.

The film is here. Note: Ignore the video to the left and click where it says, "Let me watch."

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