Bank consolidation - Lehman Brothers in depth - FT

Description

John Pierpont Morgan spent much of the 1907 banking panic playing solitaire in his library, while captains of industry came forward, one by one, with their plans for saving the country. Today, the US has the hyperactive Hank Paulson instead. The drama of Mr Paulson’s rescues of Bear Stearns, and then Fannie Mae and Freddie Mac, obscures a larger trend, however. Over the past 10 years, US banking stocks have gone nowhere. The sector, as a whole, is worth less than in 1998. Banks might be profitable places to work. But owning them? No thanks

Original URL

http://www.ft.com/cms/s/2/77ea6fea-80a7-11dd-82dd-000077b07658,dwp_uuid=11f94e6e-7e94-11dd-b1af-000077b07658.html

http://www.ft.com/cms/s/2/77ea6fea-80a7-11dd-82dd-000077b07658,dwp_uuid=11f94e6e-7e94-11dd-b1af-000077b07658.html