It deserves a thread on its own...
I know many of us here were MT4ing during the crazy 2008 days of crisis. Markets melting down, currencies gone crazy.
Names like Lehman Brothers, Merril Lynch, Bailout, subprime and credit defaul swaps were all around the newswire, we were trying to figure out whatta hell was going on...
But we were all seeing the tip of the iceberg.
Read this book:
http://ecx.images-amazon.com/images/...500_SS225_.jpg
It was quite impressive how major financial companies' CEOs got together in a weekend to figure out how to save Lehman in a private-sector solution, just to find out that it was AIG they should be addressing - Lehman was just deadbank walking.
Also noticeable are the roles of Hank Paulson and Tim Geithner, those were the men carrying the whole financial world on their backs with way too many at stake.
When Lehman went belly up, the fear went to Merril, which was sold. Along came the short selling on Morgan and later on Goldman. The whole goddamned world was hanging by a financial dental-floss and we were barely aware of that
Forget Bernanke, it was Geithner the Fed man getting down and dirty...
This is a must-read book both for we all living a real-time crisis and for those who came around after that.
I gotta tellya, I didn't want to be in any of those guys' shoes.
I know many of us here were MT4ing during the crazy 2008 days of crisis. Markets melting down, currencies gone crazy.
Names like Lehman Brothers, Merril Lynch, Bailout, subprime and credit defaul swaps were all around the newswire, we were trying to figure out whatta hell was going on...
But we were all seeing the tip of the iceberg.
Read this book:
http://ecx.images-amazon.com/images/...500_SS225_.jpg
It was quite impressive how major financial companies' CEOs got together in a weekend to figure out how to save Lehman in a private-sector solution, just to find out that it was AIG they should be addressing - Lehman was just deadbank walking.
Also noticeable are the roles of Hank Paulson and Tim Geithner, those were the men carrying the whole financial world on their backs with way too many at stake.
When Lehman went belly up, the fear went to Merril, which was sold. Along came the short selling on Morgan and later on Goldman. The whole goddamned world was hanging by a financial dental-floss and we were barely aware of that
Forget Bernanke, it was Geithner the Fed man getting down and dirty...
This is a must-read book both for we all living a real-time crisis and for those who came around after that.
I gotta tellya, I didn't want to be in any of those guys' shoes.
