[lbo-talk] The Partnership solution to financial reform

Michael Pollak mpollak at panix.com
Sat Mar 20 15:54:30 PDT 2010


On Sat, 20 Mar 2010, Jordan Hayes wrote:


> Also note that some of the Masters of the Universe got caught up in this
> thing anyway. Think Lehman and Bear.
>
> So: this is a dumb idea, because the risk that you could lose everything
> (and more) is already there, and has already been seen. And already
> hasn't been shown to help avoid the last crisis.

I'm not following you here. Lehman and Bear seem perfect examples of old-style partnerships that became public companies in the 80s/90s. And top management of those companies seem perfect examples of guys who not only didn't lose their accumulated wealth, but didn't even lose their last year's compensation.

Michael



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