Friday, March 13, 2009

He knows where the financial bodies are buried

One of the reasons (besides leaving poor Gus O'Donnell with no one to phone) that it's a shame that Rodgin Cohen is apparently out as the US Treasury #2 position is we lose a chance to shed more light on Gordon Brown's role in the Lehman collapse (subs. req'd) --

Mr. Cohen was counseling Lehman Brothers until it sought bankruptcy protection Sept. 15, and then pivoted to represent Barclays, which ended up buying the failed investment bank's U.S. operations.

Meaning that there's no one in a better position to know what happened to Barclays' request to the UK government to provide a bridging guarantee for its takeover of the not yet bankrupt Lehman for the few days that it needed to get a shareholder vote. Barclays never got the guarantee, and the rest is history.

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