In the avalanche of one-year-after coverage of the bankruptcy of Lehman Brothers and its manifold consequences, a standout op-ed piece appears in today’s Financial Times by the historian and FT contributing editor, Niall Ferguson.
In his entertaining style, Ferguson makes the case that the collapse of Lehman and the subsequent market free-fall and credit crunch changed the political landscape, allowing for the broad government bailout and aid packages needed. He also laments the lack of structural change since. Worth a read.
