This NYT column explains the problem with that:
Why kill Lehman and save A.I.G.? The theory, we now know, was that the government felt it needed to save the firms, including Goldman Sachs, that had insured many of their risky ventures through the insurer. Indeed, had Mr. Paulson decided not to save A.I.G., its counterparties would have suffered serious losses. Lehman’s creditors will be lucky to get back pennies on the dollar.Daily Sprawl predicts that Goldman that aspiring politician (probably a State Attorney General or such) will decide that taking on Goldman will be a good political move and indictments will result.
Don't be surprised at all to see this in 2009.
