What happened on Wall Street last weekend

The events of the last 48 hours still take some comprehending, but already the story is emerging of what went on at the Fed on Wall Street last weekend…

This piece in the Times is well worth a read. I’m not sure where the writer got the details from, or whether they are accurate. But it all sounds plausible, and it makes for a fascinating account of the build-up to the collapse of Lehman Brothers.