CONFIRMED AT LAST: The attempted cover-up of how JP Morgan torpedoed Lehman Brothers | A diary of deception and distortion
Around the time of the Lehman disaster, a senior insider at the firm
relayed to me what seemed an astonishing allegation: that in the weeks
prior to the eventual collapse, JP Morgan deliberately withheld huge
monies owed to Lehman in order to make the bankruptcy a certainty from
which they could benefit. I relayed this story to another contact the
following year, and he not only corroborated the charge, he also said he
was sure Barclays had done the same. The now disgraced Barclays CEO Bob
Diamond took over Lehman in a fire sale only weeks later (using
taxpayers’ money as a bridging loan to do it) and rapidly built up a
commanding position for the division he then headed up, Barcap – the
investment arm of the bank.
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