Comment on Bartlett Naylor: Wall Street and the Cost of Forgetting

Bartlett Naylor: Wall Street and the Cost of Forgetting

Wall Street wants America to forget September 15, 2008. That's because outside events of violence, few dates have signified more calamity than this fateful day. On that black Monday, Lehman Brothers Holdings Inc. declared bankruptcy. This legal action revealed the rotten core of the world's financial industry. Reckless mortgage lending motivated by the bonus-driven securitization business left Americans with $700 billion in collective mortgage debt beyond the lost market value of their homes.

 

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