Not Bailing Out Lehman Is ‘Brave’?

What a sad day it is for America when an op-ed columnist feels obliged to describe politicians as brave for not using taxpayer dollars to bail out a collapsing company.

As Avinash Persaud writes in today’s Financial Times:

It was a brave decision. By abandoning Lehman Brothers, a 158-year-old piece of Wall Street furniture, and refusing to remove their hands from their pockets when Merrill Lynch came calling, US Treasury Secretary Hank Paulson and New York Fed Governor Tim Geithner had one of the busiest weekends of dispassion on record.

Imagine that: in the U.S. big businesses are actually allowed to fail.

What a novel concept.

Matthew Vadum

The author of Subversion Inc.: How Obama’s ACORN Red Shirts are Still Terrorizing and Ripping Off American Taxpayers (WND Books, 2011), Vadum, former senior vice president at CRC, writes and speaks widely…
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