Lehman failure caused $300 billion damage

WASHINGTON (Reuters) - The financial fallout outside the United States from Lehman Brothers Holdings’ bankruptcy has been about $300 billion, the head of Germany’s financial regulator said on Monday.
“We’re still licking the wounds of Lehman,” said Jochen Sanio, president of the German Federal Financial Supervisory Authority, at an international banking conference. “It caused international damage of $300 billion outside the U.S.”

The U.S. government allowed investment bank Lehman Brothers to file for bankruptcy protection on September 15 instead of trying to intervene as it had done with investment bank Bear Stearns and later did with giant insurer American International Group.

(Reporting by Karey Wutkowski)

http://biz.yahoo.com/rb/081013/business_us_lehman_bankruptcy_damage.html

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