A “FINANCIAL ARMAGEDDON”—FIVE YEARS LATER.

A “FINANCIAL ARMAGEDDON”—FIVE YEARS LATER. As I posted on here, on September 13, 2008, Harvey Miller, the dean of the bankruptcy bar in the United States, told some 25 officials of the Federal Reserve, the Treasury, and the SEC that Lehman was not ready to file for bankruptcy and that a bankruptcy would “cause financial Armageddon”. Exactly five years later, Tracy Alloway in the Financial Times (September 13, 2013) reported on Harvey Miller’s look back at the Lehman bankruptcy. Miller said that Lehman was a “seismic event” that ignited a “conflagration”; and that “The actions during the weekend of September 13-15 were the result of a serious miscalculation.”