In a recent blog post (linked from the image below) by Ron Kirby, Ron outlines a fairly controversial, but interesting theory driving the dissolution of Lehman Brothers. I stand fully committed to the idea that what really brought Lehman Brothers down was a failure in corporate governance, as I noted in an earlier post: Corporate Governance: Redefining Independance.
However, after the board failed to save the firm from “the gorilla” Dick Fuld, I would be interested to learn if this argument around JP Morgan’s abuse of the situation by offloading its own toxic assets onto Lehman’s bankrupt balance sheet carries any weight.
To read the full post just click on the image below.
And the Band Played On
Rob Kirby, Financial Sense®, September 22, 2008