LEH didn't have liquidity issues.

And why are you so bitter? Why all those hate? I wish you could give a little credit to the hard working people. Do you have any idea how large LEH's derivatives book is simply to keep many commercial banks business as usual? Do you have any idea how much liquidity LEH has provided? Do you have any idea how much risk LEH had taken in the LTCM crisis when their own firm was also in a vulnerable position? This is an old house with a lot of legacy and pride. Their leverage is far less than Fannie and Freddie's. They are not speculators.

LEH doesn't deserve it. Yes their marks on certain assets are too high but they still don't deserve it. The Fed could have helped hadn't Fannie or Freddie gone down because the Fed OWE LEH from the LTCM deal.