Good news in Lehman’s bankruptcy

Why Wall Street's pain might pay big dividends

The losses on Wall Street look like “a bottomless pit,” said David Olive in the Toronto Star, but some good will come out of the bankruptcy of America’s fourth largest brokerage, Lehman Brothers, and the troubles at Merrill Lynch and insurance giant AIG. Flushing away the “dubious assets” and “incompetents” behind “the biggest U.S. financial crisis since the Great Depression is a necessary curative.”

“As painful as it is, as painful as it will be,” said certified financial adviser Andrew Sullivan in The Motley Fool, “the fact that both the government and the financial industry let Lehman fail is ultimately a sign of confidence in our financial markets.” So cheer up.

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