Lehman’s Legacy Still Being Written
Good Evening: After small stutter steps on Friday and this morning, U.S. stocks marched ahead today for the sixth time in the last seven trading sessions. The early dip in prices could probably be attributed to some nascent nervousness over a brewing trade dispute between the U.S. and China. But market participants took little time before apparently deciding that a trade spat is a long way from a trade war, and they spent the rest of the day bidding up share prices. The lack of economic data and the pending one year anniversary of the day went the way of the H.M.S. Hood had many in the press offering retrospectives about LEH and its legacy. The world is indeed a different place a year later, but Lehman’s failure and its role in the financial crisis of 2007 to 2009 leaves a legacy that has yet to be fully written.
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Lehman’s Legacy Still Being Written