One of the BIGGEST investment firm. $100 billion market cap.Now think about Bank of America.
NO ANALOGY HERE. Lehman had 38 to 1 leverage and BAC 7 to 1. Lehman had no liquidity without financing from Banks, BAC is a bank.
The biggest mistake thats been made in this mess was allowing the Lehman bankruptcy. Everybody admits it. The counterparty problems are still being seen. And it was done to make a point.