"Lehman Brothersâ spectacular bankruptcy two years ago marked the worst of the financial crisis. But the firm is not dead and gone. Take an elevator to the 40th floor of the Time & Life Building in Manhattan and youâll find the old logo plastered across a gleaming front desk as men in expensive suits swarm. Lehmanâs main holdings were sold off two years ago, the rest was thought to be headed for liquidation. Instead, a team was brought in to manage the portfolio and fully expects to exit Chapter 11 bankruptcy as a much smaller but profitable company with a new name: Lamco. The team held on to Lehmanâs remaining assets, instead of selling them during the worst part of the recession, and now the portfolio is valued at about $50 billion, up from $33 billion. Itâs made some creative, unexpected moves, like injecting hundreds of millions of dollars into banks in Utah and Delaware to prevent their failure." More: http://www.latimes.com/business/la-fi-lehman-20100911,0,5256400.story
Aurora Loan Services is a Lehman company. Google that and read about all the scams they perpetuate today. These people belong in prison.
They still have traders on the floor at CBOT. New name but still referred to as the old Lehman Desk in S&P Pit.
Did it make more sense to lend AIG $180 billion when they have $60 billion in collateral, instead of lending $30 billion to save Lehman. The author did say Lehman was under a bank run scenario so lending Lehman 30b was only the begining. The Fed would be lending money into a black hole. Shorts were on the attack, employees would have quit anyways. OTH, AIG is an entirely different type of business so I don't get the comparison. Then again, I don't really see what point the author is trying to make.