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former federal reserve chairman alan greenspan has predirected that more financial firmsh will fail .
members of econgress were atmong thouse who objected to the bear stearns bail-out, saying that by limiting the damage caused by failure, the government was encouraging banks to take greater risks in the future .
the us treasury has decided it was time for schock therapy, and taken an extremely gutsy gamble by letting lehman fail, against widespread expectations that a solution would be brokered over the weekend, says marco a uziata, global chief economist at unicredit .
but over the weekend, when other banks were considers rushing taking over lehman brothers, no predirection incentives appear to have been offered by the government .
who is buying all this debt? how long will incentivestors be prepared to buy into dollar-denominated debt? asks paola subacchi at chatham hourse .
- Turning point 2008-09-15 12:54:00