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Lehmann alone lost almost 300B USD of others peoples money. Banks are safe until they aren’t.

• colinmhayes 6y ago
  Lehman was an investment bank, not a commercial bank. Commercial banks aren't allowed to go into crazy leverage like Lehman did.
• gamblor956 6y ago
  Not even remotely the same thing. Lehmann Bros was an investment bank, meaning that the value of accounts was tied to the value of the securities investments contained therein, and Lehmann engaged in trading activity on behalf of those account holders. (And note: by 2013, all of Lehman's account holders had been made whole for their losses https://www.ft.com/content/f06762de-cf94-11e2-a050-00144feab7de https://www.ft.com/content/f06762de-cf94-11e2-a050-00144feab...) Savings accounts (and checking accounts) are regulated very different from investment accounts.
  • lixtra 6y ago
    > Not even remotely the same thing. Well, Mt. Gox and Bitcoin? Not even remotely the same thing.
    • gamblor956 6y ago
      Right, because Mt Gox was purporting to be a bank where you could store your Bitcoin, when it actuality it did not have sufficient crypto to pay out depositors as a result of many hacks and other shenanigans perpetrated by their own employees or contractors and it was openly lying to customers. (By the time of the fatal "hack," Mt Gox was already insolvent.)