On 5-Year Anniversary Of Mortgage Meltdown, Those Responsible Are Doing Just Fine

On Sept. 15, 2008, Lehman Brothers became the largest bankruptcy filing in the history of this country. It was the first domino of many to fall, followed by the likes of Bear Stearns, Merrill Lynch, Countrywide, Wachovia, Washington Mutual, and many other banks and investment firms that had bet too much money on the subprime mortgage market, only to have it collapse when people realized many of those bad loans would never be repaid. These events ripped apart the American economy and left people out of work for extended periods of time. But not most of the bankers responsible for the mess.
In honor of the five-year anniversary of the Lehman disaster, the Center for Public Integrity has been publishing a series all week called “After the Meltdown,” which includes some follow-up looks at how various executives at failed banks and subprime lenders have survived in the post-bubble world.

More