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Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

Abigail Hofman:

Abigail Hofman:

I wonder if ______ is an extremely optimistic person or in a cocoon of senior management denial

October 2008

Becoming modesty at Lehman





The Lehman Brothers website, may have provided a little insight as to why the bank collapsed last month. According to the Life at Lehman, People section of the website, one employee called Margot at the bank was surprised she made the grade:

"When I first came to Lehman Brothers I wondered how I was going to shine at a big firm. I had a different background from most of my peers in the analyst program. I was an art history major, and not a terrifically quantitative person, so I suspected I would never be the best modeler or market predictor."

(http://www.lehman.com/careers/lifeatlehman/people.htm)







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