The executive in charge of restructuring Lehman Brothers sees some "striking" similarities between his company and Greece, he told CNBC Thursday.
"If I was advising Greece right now, if I was advising the various countries in the European Union, I would be telling them to do their contingency planning, prepare a liquidity plan to withstand the storm," said Brian Marsal, Lehman's CEO and co-chief executive of turnaround firm Alvarez & Marsal North America.
Lehman's was the largest U.S. bankruptcyin 2008, at the time the biggest investment bank to collapse since Drexel Burnham Lambert in 1990.
"I would expect the Germans mean what they’re saying" when they take a hard line on the Greek debt situation, just as then-Treasury Secretary Henry Paulson "really meant it in the case of Lehman," Marsal said.