lehman brothers

Former President Bill Clinton now says that letting Lehman Bros. fail was a mistake that wound up clinching the election for then-candidate Barack Obama, reports Money & Company, the L.A. Times’ Business blog. Clinton’s remarks came before a meeting of the World Business Forum in New York on Wednesday, and were first reported in The [...]

The Los Angeles Times takes a close look at a problem TWI detailed Tuesday in a piece about neglected bank-owned property. Some of that property, as we explained, includes half-built housing developments, where construction was halted when the mortgage market went bust. Those developments are called PVC farms, after the PVC sewer pipes that stick [...]

Wall Street sure does like the thought of Tim Geithner running the Treasury Dept. next year. (The Dow surged 494 points Friday as the news leaked, and 397 yesterday as the appointment was officially announced.) But, like Sarah Palin before him, the relatively obscure Geithner — who’s headed New York’s Federal Reserve Bank for the [...]

For weeks, Republican lawmakers have been pushing for an increase in offshore oil drilling, hoping to use towering fuel costs and Democrats’ historic opposition to the drilling expansion to make the energy debate the defining issue of the congressional campaign season.
Then Lehman Bros. crumpled into bankruptcy, Merrill Lynch was sold out and AIG began teetering [...]