Lehman is a trading partner for every bank in this room.
Their failure will be a massive blow to all of you.
This is your problem.
We can all argue about how we got here. Deregulation, derivatives, Dick Fuld made bad decisions.
We are all responsible. It's a catastrophic mess.
The government's done whatever it can do. It's on you now.
You need to fix it and you need to pay for it.
Let me be clear.
We will remember anyone who is not helpful.
Michele Davis: I hate to do this right now, but I'm gonna have to have a press call first thing, and I really don't know what I'm gonna tell them.
Neel Kashkari: Tell them Lehman exacerbated A.I.G., the simultaneous payouts of C.D.O.s and credit default swaps put catastrophic pressure on……
Henry Paulson: Go back further.
Neel Kashkari: The global pool of investment capital……
Henry Paulson: She has to do this in English. Start with the homeowners.
Jim Wilkinson: Okay okay, here's how you explain it —— Wall Street started bundling home loans together--mortgage-backed securities--and selling slices of those bundles to investors. And they were making big money, so they started pushing the lenders, saying, "come on, we need more loans. "
Henry Paulson: The lenders had already given loans to borrowers with good credit, so they go bottom-feeding. They lower their criteria.
【大而不倒】人气！TOO BIG TO FALL，
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