The Washington Post reports today that the federal government is going to arrange the sale of financial giant Lehman Brothers. Just a week ago, the federal government pledged potentially billions in taxpayer money to prevent the collapse of Fannie Mae and Freddie Mac. Just yesterday, this was the top story on cable news.
Might I suggest that some of our core institutions - government, private enterprise, media - are in a bad way?
From the Post:
The Treasury Department and the Federal Reserve are engineering a sale of Lehman Brothers through a consortium of private firms. The details are not finalized, but sources familiar with the matter say the purchase is expected to be completed and announced this weekend before Asian markets open on Monday morning.