Lehman Brothers launches a last gasp nuclear attack on Goldman Sachs.
Fortunately, the subprime warheads they had acquired are just bomb casings full of old pinball-machine parts.
Lehman Brothers launches a last gasp nuclear attack on Goldman Sachs.
Given the level of due diligence Lehmans, and others*, undertook when purchasing assets, especially ABS, that is highly probable.Fortunately, the subprime warheads they had acquired are just bomb casings full of old pinball-machine parts.
Given the level of due diligence Lehmans, and others*, undertook when purchasing assets, especially ABS, that is highly probable.
* in the UK RBS and Lloyds TSB come to mind re acquisition of ABN-Amro and HBOS respectively
True about Lloyds but they could have said no or got a better deal. I heard from someone senior at HSBC that it had been asked also by Brown to rescue HBOs.To be fair, Lloyds were basically asked / told by the government to rescue HBOS.
ABN-Amro was entirely RBS’ fault though!
To be fair, Lloyds were basically asked / told by the government to rescue HBOS.