The dangerous myth we still believe about the Lehman bust

The 10th anniversary of the Lehman Brothers bust this week resounds with retrospectives on the great financial crisis.

Having immersed myself in the life of one of the protagonists, I have my own perspective. When my biography of former Federal Reserve chairman Alan Greenspan was first published two years ago, I was concerned that the common understanding of the crisis was wrong. Now, as we gaze back after a full decade, the mistake looks dangerous.

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A version of this article appeared in the print edition of The Straits Times on September 12, 2018, with the headline 'The dangerous myth we still believe about the Lehman bust'. Print Edition | Subscribe