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SEP 21, 2013 - New York Post

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We need Fuld in the pits

It’s been five years since Ben Bernanke turned Dick Fuld away from the discount window, sealing both their fates. Lehman Bros. — love it or hate it — was a very necessary component of the Street. The collapse of a risk-taking investment bank the size of Lehman left a gaping hole in the bond markets that only the Federal Reserve could fill. Starting with a $700 billion balance sheet when the Fed stepped in to what was thought to be a temporary operation in 2008, today the Fed’s holdings stand at almost $3.7 trillion and growing. At the same time, the balance sheets of the major investment ... Read More

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