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« 'Survivors' Board Offers Help to Heller, Thelen | Main | Heller's Larrabee Joins Dechert »

October 30, 2008

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Observer

People should not assume that the firm could make its banks do anything. The harm was done much earlier, when the firm took on too much secured financing. Alas, taking on debt in a futile attempt to stay afloat is something companies in all industries tend to do on the path to dissolution.

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