Barry Ritholtz's Masters in Business: Bill Miller Interview
Masters in Business
00:00
What Happened to Lehman Brothers in 2009?
In January 2009, the preferred stock of Citibank Bank America was trading at like 50 cents on the dollar. The government caused those preferreds to be converted into common stock at roughly par. So that had to save a ton of capital. And again, we shouldn't have gone as quickly after that as we did.
Play episode from 01:02:59
Transcript
