Because those "filed" banks didn't die, They merged. JP Morgan picked up Bear in a fire sale, for a billion. Bear's Office building in NYC was worth more. Leh

Because those "filed" banks didn't die, They merged. JP Morgan picked up Bear in a fire sale, for a billion. Bear's Office building in NYC was worth more. Lehman went bankrupt.. but our government (us taxpayers) had to eat the mortgages in order for other banks to buy Lehman's assets. The banks just moved the money from A to B. BofA picked up Merrill for peanuts. Wachovia was picked up by Well Fargo. Another fire sale. And who lost out? Us taxpayers, and the employees. Mostly the back office staff. Most of the traders kept their jobs (and bonuses). And the executies made billions in buyouts, parachutes and stock transactions.