Why was the failure of Lehman Brothers hearalded as the *cause* of the financial crisis, when it was really the result of the financial crisis?
It’s like they are trying to convince the masses that the govt should bail out all large financial institutions, and that if we did this, everything would be okay (“we can never let the failure of a large financial firm happen again!”).
Instead, we should be focused on regulations that prevent these risks from being taken, even if that means financial firms would be far, far less profitable. The banking/financial system should exist to allow productive businesses to transact with one another; they should not exist for the enrichment of the banking system itself, IMHO.
