Harvey Miller, a partner at Weil, Gotshal & Manges LLP, who guided Lehman Brothers Holdings Inc. through the biggest-ever U.S. bankruptcy, says the refusal of the U.S. Treasury to save Lehman Brothers was “a gross miscalculation” and Henry Paulson’s account of the events is “revisionist history.” Miller talks with Bloomberg’s Tom Keene and Michael McKee on Bloomberg Radio’s “Bloomberg Surveillance.”
Listen to the interesting interview on Tom Keene’s Surveillance – a deal could have been done to save Lehman. How do we know this? Well, $40 billion+ has been returned to Lehman creditors since it entered Chapter 11 bankruptcy. If the Treasury financed an orderly sale of assets like it did with Long Term Capital Management perhaps the severity of the Lehman shock wouldn’t have been as bad. Interesting, we still don’t know the full story here.