Lehman's failure seen as catalyst for current financial crisis

10/10/2008 | Reuters

The Treasury Department's decision to not rescue Lehman Brothers may have been the "straw which broke credit market," according to a Reuters report. "For the equilibrium of the world financial system, this was a genuine error," French Economy Minister Christine Lagarde said Wednesday. Treasury Secretary Henry Paulson defended the decision to not offer a rescue plan to Lehman Brothers.

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