Naked short selling and pump and dump was in effect which is indisputable by the facts, Lehman was just a trigger point. Making it all about Lehman is disingenuous to the full statement and event.
The Great Recession was a value extraction event plain and simple, a banking squeeze in the end. Naked short selling, short and distort and pump and dump were the fuel, the value extractors took from the value creators.
The Great Recession wasn't an typical market correction but engineered, many banks and funds paid fines for their part [1][2].
Short and distort is back in full force, gearing up for another round [3].
People will not be ok with 'too big to fail' this time around, and if another Great Recession happens, it may permanently harm public markets for good.
