Tuesday, October 7, 2008

The Greenspan Depression: One Country, Two Worlds.

While Wall Street Captain of Finance Richard Fuld walks home with $500 Million after destroying his shareholders' investment in his company, Lehman Bros...

Fuld's Destruction: Lehman

To put Fuld's Lehman debacle into perspective, this chart illustrates the 10 largest Chapter 11 bankruptcies in US history. As the chart illustrates, the bankruptcy of Lehman Brothers dwarfs all previous US bankruptcies EVER. Notice how small the Enron Fraud looks in comparison.

The US government has taken the approach that some companies are 'too big to fail' as failure could have devastating systemic effects. In the case of Lehman Brothers, however, the bar as to what is too big has been raised - considerably. Yet, the culprits get to walk of home with $500 million in personal wealth.

And, living in the same world that Mr. Fuld, AIG executives hit the spa less than a week after the taxpayers bailout...

In another world, yet still in the same country, a well educated, hard working family that was living the American Dream, is literally obliterated by the fallout of The Great Greenspan Depression of the Millennium:

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