Was Lehman a BB?
All of the threads attempting to rank different banks in terms of prestige and the never-ending debate over whether or not DB is a BB, made me wonder how banks like Bear Sterns and Lehman were viewed back in the days before the financial crisis?
Prior to 2008, Lehman was the fourth largest investment bank by fees with about 25,000 employees. It was definitely a solid BB.
Lehman was 100% a BB. The issue is that you can't have a trader run a bank, too aggressive and lack of fundamental strategy. Rich Handler is basically the wannabe Dick Fuld.
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