Ten years from now no one is going to say that this crisis was brought about because Lehman Brothers went down.
The Reckoning – Struggling to Keep Up as the Crisis Raced On – Series – NYTimes.com
Oct 22, ’08
8:34 PM
FT.com / In depth – Panic grips credit markets
Sep 17, ’08
4:46 PM
Barometers of financial stress hit record peaks across the world. Yields on short-term US Treasuries hit their lowest level since the London Blitz, while gold had its biggest one-day gain ever in dollar terms. Lending between banks, in effect, stopped.”
Closing time
Sep 5, ’08
10:09 PM
Fannie Mae and Freddie Mac went up the hill to fetch a pail of water. They both fell down, broke their crowns and couldn’t get up.
Switch fairy tales: now, all the King’s horses and all the King’s men can’t put them back together again.
The usual sources familiar with the matter let it be known through [...]