Wachtel Lipton on Lehman Brothers
People will be debating the Lehman bankruptcy for years. Wachtell, Lipton, Rosen & Katz has weighed in with a memo to clients covering some lessons learned. Chief among them: Many of Lehman's counterparties "thought they were somehow protected form such a disastrous outcome--but were actually not protected at all," notes the New York Times. Article
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