THE LEHMAN FAILURE A YEAR LATER.

THE LEHMAN FAILURE A YEAR LATER. A year ago, on Sunday September 14, 2008, the decision was made for Lehman Brothers, the investment bank, to file for bankruptcy (apparently the filing was done electronically at about two in the morning the next day.) The event has been memorialized in articles which debate whether allowing Lehman to go bankrupt was a mistake. This article from the Economist sums up the affirmative: “Lehman’s failure is widely seen as a…turning-point in the current financial crisis: an unexpected blunder that came close to turning a garden-variety recession into another Depression.” It concludes with the contrary position: “Lehman’s collapse may even have hastened the ultimate resolution of the crisis.”