John Hinderaker has excerpts from Hank Greenberg's testimony in Congress. Greenberg was the former head of AIG who was hounded out by Eliot Spitzer.
My friend David Skeel has making a lot of noise lately arguing that Chapter 11 is an appropriate mechanism for resolving the distress of financial companies, including Lehman. He had a piece in the WSJ last week and there was an interesting piece in the WSJ yesterday that amounted to a profile of his idea. I find David's arguments on this point quite persuasive.