> On Feb 17, 2016, at 2:32 PM, raghu <[email protected]> wrote: > > Why were Lehman Brothers, AIG and the other major Wall St firms treated > differently than Fannie and Freddie? Certainly the legal status of FNMA was > somewhat different than than of Lehman, but I don't think that is the whole > story.
Everyone thought that, claims to the contrary, Fannie and Freddie were ultimately backed by the US government. And clearly they were. > I think the real answer to why Lehman and others were not nationalized has to > do with the fact that many of the activities of these entities were purely > speculative and have no public utility whatsoever. > > If this is true, then what we really need is a good portion of Wall St to be > shut down, not nationalized.. Nationalization could have done that. Shut down the dangerous/toxic crap and turn the rest into a utility. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
