US bailout: lawyers have their say

Author: | Published: 2 Oct 2008

"They shouldn't have called it a bailout. To get widespread support, they should've called it the Freedom plan. It worked with French fries."

In New York, lawyers can't stop talking about the Treasury's bailout plan. Some think the banks should be allowed to fail, others think it would have been a good idea six months ago but is too late now. A few are just trying to get their head around the scale of this event. Here is IFLR's selection of the water-cooler chatter.

Partner, New York firm: "The government let Lehman fail because it wanted to set an example. It thought the bank was self contained. In hindsight, I bet it wishes it had done something."