“There is no honor among thieves”
Bloomberg is a bit circumspect, while the Sunday Times pointblank says “JP Morgan ‘brought down’ Lehman Brothers”
JP Morgan has been accused by its Wall Street rivals of dealing the final hammer blow that forced Lehman Brothers into collapse in a sensational claim that threatens to spark a colossal legal battle.
The giant American bank is alleged to have frozen $17 billion (£9.6 billion) of cash and securities belonging to Lehman on the Friday night before its failure.
And did JPM Chase then transfer $138 billion of garbage to Lehman while getting a stealth infusion of $138 billion from the Fed?
It is highly likely [or a certainty on my planet] that J.P. Morgan was INSOLVENT and was ‘BAILED OUT’ last Monday, September 15, to the tune of 138 billion dollars. This would explain why the Fed and Treasury dictated that Lehman fail – to disguise or otherwise obfuscate the recapitalization of or illicit transfer of 138 billion to A MUCH SICKER, TEETERING ENTITY, J.P. Morgan Chase.”