“The Lehman Brothers bankruptcy is fading into history”

Bloomberg appears to be a paid-up member of the green shoots brigade, if recent stories are any indication. On Monday, the newswire ran a piece trumpeting bond traders’ belief that the memory of Lehman’s collapse was no longer cause for angst:

From Frankfurt to London to New York to Tokyo, bond traders say the Lehman
Brothers Holdings Inc. bankruptcy is fading into history as the cost of credit
retreats throughout the Group of Seven industrialized nations.
The shock to
financial markets from Lehman’s collapse in September sent the Standard &
Poor’s 500 Index to its biggest annual decline since 1938, froze credit markets,
drove Goldman Sachs Group Inc. to seek $5 billion from Warren Buffett and
sparked a run on Treasuries that caused bill rates to fall below zero for the
first time.