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October 2, 2015

Bernanke, in new memoir, recalls Lehman's failure

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON — Ben Bernanke recalls the September weekend in 2008 when regulators sought desperately but in vain to save the investment bank Lehman Brothers as a “terrible, surreal moment.”

“We were staring into the abyss,” the former Federal Reserve chairman writes of the tense negotiations, led by Timothy Geithner, then head of the New York Fed, and Henry Paulson, then Treasury secretary.


 
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