To: Honorable President Barack Obama
Cc: Honorable House Speaker Nancy Pelosi
Honorable Senators Harry Reid and Richard J. Durbin
Honorable Chairman, House Oversight and Government Affairs Committee
Honorable Chairman, Financial Crisis Enquiry Commission
Sub: FCIC Hearings: Why Lehman Brothers was not rescued? The Answer Offers the Idea for Creating Massive Employment Once Again.
Dear President Obama,
As the biggest financial institutions tottered in 2008, did the regulators have an overriding common principle, maybe tacit, to pick the ones that deserved to survive to absorb the others?
The Financial Crisis Inquiry Commission posed this profound question, yesterday, to the prominent witnesses from J.P. Morgan & Chase, Lehman Brothers, Federal Reserve Bank of New York, and Law Firms.