Former Regulator on Lehman’s Collapse


Editor’s note: Paul recently sat down with Robert Glauber, former Treasury undersecretary under George H.W. Bush and the leader of the taskforce under Reagan charged with reporting on the 1987 stock market crash, to discuss what Glauber would have done if faced with Lehman’s imminent collapse — to save or not to save.

They also discuss the key differences between earlier Wall Street failures and those of today, including the failure of the major investment bank Drexel Burnham in the late 1980s.