000			01090nam a22001457a 4500
999			_c521623 _d521623
008			230217b ||||| |||| 00| 0 eng d
100			_aChari, V. V. _937337
245			_aLarry ball's the fed and Lehman brothers: A review essay
260			_aJournal of Economic Literature
300			_a60(4), Dec, 2022: p.1503-1508
520			_aLaurence Ball argues that the Federal Reserve (the Fed) could—and should—have bailed out Lehman Brothers so that it did not have to declare bankruptcy. He presents compelling evidence that it could have. I argue that the view that the Fed should not bail out Lehman is reasonable under the circumstances the Fed was in at the time. The Lehman bankruptcy is a case study in bailouts and the attendant moral hazard problem that expectations of bailouts create. The lessons learned imply a clear case for appropriate regulatory intervention to solve the problems created when governments cannot commit themselves to not undertake bailouts.- Reproduced
773			_aJournal of Economic Literature
906			_aECONOMIC DEVELOPMENT
942			_cAR