On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. “There was literally a pause in that room where the oxygen left,” Said Senator Dodd.
This was an excellent piece last night on PBS. It sure sounds to me like Hank Paulson had an axe to grind with the heads of Bear Stearns and Lehman. You have to think they butted heads more than once their careers. Here’s the link in case you missed it: