Politics is Simple

Missed it the first few times I read this article. Emphasis added.

"The president of the Federal Reserve Bank of New York, William McDonough, convened a meeting of the major creditors—Bankers Trust, Barclays, Bear Stearns, Chase Manhattan, Credit Suisse, First Boston, Deutsche Bank, Goldman Sachs, J. P. Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Parabas, Salomon Smith Barney, Société Générale, and UBS. The meeting was “voluntary” as was ultimately the participation in the rescue that the Fed orchestrated.

Most of the creditors agreed to put up $300 million apiece. Lehman Brothers put up $100 million. Bear Stearns contributed nothing.."

Which firms were allowed to fail, again?

When politics looks unsimple, it's always and only because the relevant events are being hidden.