Bad policies, bad politics and bad players lead to failure

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Nigeria, Israel

Nigeria, IsraelBy Muyiwa Adetiba

Lehman Brothers was one of the biggest banks in the world. It had its fingers in many financial pies all over the world.

It was a respected player with a rich tradition behind it. All of this was until it filed for bankruptcy a little over a decade ago.

The news of its bankruptcy jolted the financial world; it jolted the corporate world; it jolted nations.

They say when an elephant dies, all sorts of knives come out. It was humbling seeing the once proud bank being sliced open as smaller banks scrambled for juicy parts of the fallen giant.

The news shocked America into declaring that some enterprises were simply too big to be allowed to fail.

But the truth is that nothing is too big to fail; not an enterprise, not a country. Until its bankruptcy, Lehman Brothers was, like Israel before Noah’s Flood, still going about its day to day duties.

It was still hiring the best talents; it was still attracting the best interns from prestigious…



Source: Vanguard Newspaper