The document contains multiple articles from The Wall Street Journal covering the 2008 financial crisis and aftermath. It reports on the collapse of major financial institutions like Lehman Brothers, Bear Stearns, and AIG through in-depth reporting on their declining stock prices, desperate attempts to avoid bankruptcy, and the impacts of their failures. It also traces how taxpayer bailout money was used, including payments to banks like Goldman Sachs that were counterparties on insurance contracts held by AIG.
India ENews Oct 3, 2008 - Inside the financial tsunami: what brought it on?Jagannadham Thunuguntla
The financial tsunami now inundating global economies and markets was brought on by imprudent easing of US lending norms and extreme over-leveraging by giant US investment banks, analysts say.
Presented by Dr. Robert Dauffenbach for the 2010 Oklahoma Trucking Association's Midwinter Conference
Robert C. Dauffenbach is Associate Dean, Research and Graduate Programs, Professor of Business Administration, and Director, Center for Economic and Management Research, Michael F. Price College of Business, University of Oklahoma.
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
This paper is a summary of press clippings gleaned from Internet during the period April to July 2008. This exercise was performed to provide a quick summary of the US credit crisis at that particular point in time / 2nd quarter 2008. The paper was presented to a non native English speaking European audience consisting primarily of insolvency judges July 3rd 2008 in Paris.
Blog Coverage Bella Caio Oct 10, 2008 Financial Tsunami What Brought It OnJagannadham Thunuguntla
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
The Role of Investment Banks in Deregulatory EnvironmentAakash Kumar
The scope of this research is to know how investment banks have affected globally in deregulated environment. This report covers some basic functions of investment banking, what is financial deregulation and what are some major examples of deregulation in history of USA and UK. Research method for this research will be analyzing the secondary data. In this report, history of investment banking is described. After that how in deregulated environment investment banks create a bubble, which busted affecting million of lives.
Finally, a conclusion is drawn from all the information about the role of investment banking in deregulatory environment giving a brief overview of investment banks and deregulation.
Washington Mutual Bank's Collapse Under An Audit Perspectivehong_nona
This is my MBA project paper of the External Audit course. The project paper was tapped to the hottest topics of the U.S. economic crisis in 2008, three months after the collapse of the biggest U.S. bank institution.
The author incorporated the audit principles in analyzing the root causes of the U.S. economic crisis and how this disaster can be avoided.
India ENews Oct 3, 2008 - Inside the financial tsunami: what brought it on?Jagannadham Thunuguntla
The financial tsunami now inundating global economies and markets was brought on by imprudent easing of US lending norms and extreme over-leveraging by giant US investment banks, analysts say.
Presented by Dr. Robert Dauffenbach for the 2010 Oklahoma Trucking Association's Midwinter Conference
Robert C. Dauffenbach is Associate Dean, Research and Graduate Programs, Professor of Business Administration, and Director, Center for Economic and Management Research, Michael F. Price College of Business, University of Oklahoma.
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
This paper is a summary of press clippings gleaned from Internet during the period April to July 2008. This exercise was performed to provide a quick summary of the US credit crisis at that particular point in time / 2nd quarter 2008. The paper was presented to a non native English speaking European audience consisting primarily of insolvency judges July 3rd 2008 in Paris.
Blog Coverage Bella Caio Oct 10, 2008 Financial Tsunami What Brought It OnJagannadham Thunuguntla
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
The Role of Investment Banks in Deregulatory EnvironmentAakash Kumar
The scope of this research is to know how investment banks have affected globally in deregulated environment. This report covers some basic functions of investment banking, what is financial deregulation and what are some major examples of deregulation in history of USA and UK. Research method for this research will be analyzing the secondary data. In this report, history of investment banking is described. After that how in deregulated environment investment banks create a bubble, which busted affecting million of lives.
Finally, a conclusion is drawn from all the information about the role of investment banking in deregulatory environment giving a brief overview of investment banks and deregulation.
Washington Mutual Bank's Collapse Under An Audit Perspectivehong_nona
This is my MBA project paper of the External Audit course. The project paper was tapped to the hottest topics of the U.S. economic crisis in 2008, three months after the collapse of the biggest U.S. bank institution.
The author incorporated the audit principles in analyzing the root causes of the U.S. economic crisis and how this disaster can be avoided.
Саша Куценко — Проектируйте не интерфейс, проектируйте взаимодействие (RI...Sasha Kutsenko
Презентация Саши Куценко на Russian Internet Week 2014 (RIW 2014) об методологии Online-Offline в UX design, которая позволяет взглянуть на взаимодействие человека с интерфейсом с новой стороны. Найти новое в известном, вызвать у пользователя уважение к продукту и улучшить общее впечатление от использования. В докладе основные механики работы с методологией, разбор её применения на примерах, отзывы пользователей и полученные в нескольких проектах результаты.
TOO BIG TO FAIL
Andrew Sorkin
PROLOGUE
Standing in the kitchen of his Park Avenue apartment, Jamie Dimon poured himself a cup of
coffee, hoping it might ease his headache. He was recovering from a slight hangover, but his head
really hurt for a different reason: He knew too much.
It was just past 7:00 a.m. on the morning of Saturday, September 13, 2008. Dimon, the chief
executive of JP Morgan Chase, the nation’s third-largest bank, had spent part of the prior evening
at an emergency, all-hands-on-deck meeting at the Federal Reserve Bank of New York with a
dozen of his rival Wall Street CEOs. Their assignment was to come up with a plan to save Lehman
Brothers, the nation’s fourth-largest investment bank—or risk the collateral damage that might
ensue in the markets.
To Dimon it was a terrifying predicament that caused his mind to spin as he rushed home
afterward. He was already more than two hours late for a dinner party that his wife, Judy, was
hosting. He was embarrassed by his delay because the dinner was for the parents of their
daughter’s boyfriend, whom he was meeting for the first time.
“Honestly, I’m never this late,” he offered, hoping to elicit some sympathy. Trying to avoid
saying more than he should, still he dropped some hints about what had happened at the meeting.
“You know, I am not lying about how serious this situation is,” Dimon told his slightly alarmed
guests as he mixed himself a martini. “You’re going to read about it tomorrow in the papers.”
As he promised, Saturday’s papers prominently featured the dramatic news to which he had
alluded. Leaning against the kitchen counter, Dimon opened the Wall Street Journal and read the
headline of its lead story: “Lehman Races Clock; Crisis Spreads.”
Dimon knew that Lehman Brothers might not make it through the weekend. JP Morgan had
examined its books earlier that week as a potential lender and had been unimpressed. He also had
decided to request some extra collateral from the firm out of fear it might fall. In the next
twenty-four hours, Dimon knew, Lehman would either be rescued or ruined. Knowing what he did,
however, Dimon was concerned about more than just Lehman Brothers. He was aware that Merrill
Lynch, another icon of Wall Street, was in trouble, too, and he had just asked his staff to make sure
JP Morgan had enough collateral from that firm as well. And he was also acutely aware of new
dangers developing at the global insurance giant American International Group (AIG) that so far
had gone relatively unnoticed by the public—it was his firm’s client, and they were scrambling to
raise additional capital to save it. By his estimation AIG had only about a week to find a solution,
or it, too, could falter.
Of the handful of principals involved in the dialogue about the enveloping crisis—the government
included—Dimon was in an especially unusual position. He had the closest thing to perfect,
real-time information. That ”deal flo w” enable ...
I. Introduction
II. Causes of the current financial crisis
III. A timeline of the most important events
IV. Fannie and Freddie
V. The current financial crisis’ nature
VI. The great depression & lessons from the past
VII. The Impact on Emerging Countries.
VIII. How to solve this problem
IX. Executive Summary
X. Sources
I made this paper for my English course. It\'s a nice paper if you\'re interested in the crisis. You don\'t need to be an economist to understand what I\'m writing about, it\'s written in clear,understandable English!
This version still contains some errors...(it\'s not the final version)
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India's fourth largest share brokerage firm, the Delhi-based SMC Group, told IANS.
In this paper Jon Terracciano will examine the current regulatory environment in which hedge funds operate, and will argue that although the regulatory system is in need of reform, proposed legislation is unnecessarily restrictive and could actually harm U.S. and international markets.
Jon terracciano: Hedging the Global Market - IntroductionJon Terracciano
The introduction to a series of presentations on "Hegding the Global Market: Avoiding Excessive Hedge Fund Regulation in a Post-Recession Era". Additional presentations to follow. By Jon Terracciano, 2008
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
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Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
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#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
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#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
8. Housing Bubble Coverage “U.S. Mortgage Crisis Rivals S&L Meltdown; Toll of Economic Shocks May Linger for Years; A Global Credit Crunch” – Greg Ip et al. (Dec 10, 2007) Pg. A.1 Clear, 3000-word explanation of housing bubble origin and impact on economy “MarketWatch: Surviving the Big, Scary ‘Mega-Bubble’ – Paul Farrell (Jul 17, 2005) Addresses readers’ concerns by informing them of experts’ opinions about how to best prepare for potential bursting of bubble Ineffective: Large decrease of “housing bubble” mentions in 2006
9. “The Fall of Bear Stearns”Kate Kelly Part I: May 27, 2008 “’I just simply have not been able to come up with anything, even with the benefit of hindsight, that would have made a difference.’” -- Alan Schwartz, chief executive Bear Stearns “…the firm’s leaders missed opportunities that might have been able to save the 85-year-old brokerage.” “To outsiders, it was beginning to look as if Bear Stearns had navigated the crisis relatively deftly. Inside the firm, that view wasn’t as prevalent.” Part II: May 28, 2008 “It was the beginning of a frantic 72 hours that would bring the Wall Street firm to its knees…show how quickly a company that took 85 years to build could unravel.” “credit- default swaps — a big, barely regulated market where one party, for a price, assumes the riske that bond or loan will go bad.” (layman’s terms) “Inside the sixth-floor conference room…executives cheered and exchanged high-fives. They thought they had four weeks to sort out their problems.” “If This Is a Bubble, It Sure Is Hard to Pop” Tuesday March 30,1999 --- Dow hit 10,000
10. Part III: May 29, 2008 “…capped a helter-skelter week — and presaged another 10 days of chaos. Interviews with more than two dozen executives and others directly involved show that Bear Stearns nearly died not once, but twice.” “Bear Stearns Chief Financial Officer Samuel Molinaro Jr. — tired and in the same suit he’d left home in 36 hours before…” “If there were hazards, moral and otherwise, luring in the deal, the future would have to sort them out.” Conclusions: May 30, 2008 “Bear Stearns Cos., a powerhouse on Wall Street for nearly nine decades, ceased to exist Thursday in a meeting that lasted 11 minutes.” “In doing so, they sealed a deal made in haste two months ago amid one of the most terrifying bank runs in history.”
11. “Lehman Races to Find a Buyer”September 12, 2008 Employees taking lunch breaks or a few minutes for a smoke… discussed the firm’s future. “It’s over, man… unless we get bought out in the next 24 hours, it’s over,” said a young man, in conversation with someone on his cellphone.” At a fast-food vendor across the street, people waiting to order food discussed the dive into Lehman’s share price this week “At some point, where does it stop?” one said, as he headed back to the office
12. Reporting Figures “As a result, Lehman shares fell by as much as 48% by midday Thursday, touching their lowest point since 1995” – Lehman Races to Find a Buyer “Evergreen Money Market Fund had $309 million, or 1.9% of its assets, invested in Lehman credit” – Sponsors to back Some Lehman Exposure “Money Market Fund had $110 million, or 1.66% of its assets invested” – Sponsors to back Some Lehman Exposure
13. Investors Flee Money Funds, Moving Cash to Safer Spots “As credit markets locked up world-wide, investors have started moving their cash from money funds to safer locales, such as U.S. Treasurys and bank certificates of deposit” “A run on money funds would have implications for corporations that depend on short-term funding such as commercial paper” “If the funds don’t buy this paper, it could cause a cash crunch…” “Another source of fund money comes from ‘sweep accounts,’ through which brokerage customers’ spare cash is automatically deposited in a money fund.”
14. Sponsors to Back Some Lehman Exposure; “RIC Money Market fund had $403 million in exposure to Lehman credit… RTC Short Term Investment had $75 million in exposure. “Fidelity Investments said… nine of its general-purpose money funds had minimal exposure to a single Lehman Brothers repurchase agreement. “But all of these holdings were paid in full Tuesday, so Fidelity’s taxable money-market funds now have no exposure.”
18. Tracing The Money March 2009: “[bail-out money] stand to benefit hedge funds that bet on a falling housing market” “its gambling debts are what taxpayers are paying off right now” “From mid-September to the end of last year, AIG and the government paid $5.4 billion to Deutsche and $8.1 billion to Goldman under credit default swap contracts the insurer had written.” “indicating the underlying assets are valued at roughly 27 cents on the dollar”
19.
20. December 12th, 2009 “The trades yielded Goldman less than $50 million in profits, which were mostly booked from 2004 to 2006, according to a person familiar with the matter. But they piled risks onto AIG's books, which later came to haunt the insurer and Goldman. The trades also gave Goldman a unique window into AIG's exposure to losses on securities linked to mortgages. When the federal government bailed out the insurer, Goldman avoided losses on its trades with AIG covering a total of $22 billion in assets.” “Goldman charged more than AIG for the protection, so it was able to pocket the difference, making millions while moving the default risks to AIG” “Goldman officials said the company believed it would have been fully protected had AIG been allowed to fail because of collateral it had amassed and the additional insurance it had bought against an AIG default. The auditor, however, questioned that conclusion. The report said Goldman would have had a difficult time selling the collateral and that the firm might have been unable to actually collect on the additional insurance.”
21. One Year Later “Lessons of the Financial Crisis – One Year Later” – Gregory Zuckerman (Aug 30, 2009) Pg. 1 Gives a list of lessons learned from the crisis using hindsight that can be used to avoid a future crisis Doesn’t blame a particular entity “The End of Wall Street” Documentary Three 10 minute parts: What Happened?, Why It Happened?, What Happens Next Collection of WSJ reporters review crisis and give input on each major event End documentary by sharing how they think the economy will progress
Editor's Notes
All of these items could have and would be discussed in depth further in separate articles to come in the future. They did a good job of mentioning the important issues and trying not to skew things, however more attention could have been paid to how they got into this mess in the first place with the financial products division, leverage, and CDS.
In the months after, questions would rise through congress regarding where the bailout money came from, when taxpayers are being paid back, and where the money went to. In March 2009, developments surrounding the bets of AIG entered the media.Discussion of payouts to banks begins, but is not discussed, or explained very clearly, especially when it comes to determining why the government paid the banks. Goldman claims they were hedged, but this has not been discussed.This needed to be investigated more.Because it was so widespread, filtered, and complicated, it took a lot of time to sort through where the money that went to AIG actually went. This, the bailout, financial regulation (such as hedge funds and short selling) and revelations on corporate spending and compensation lingered for the next year. You can go numerous routes here – but this is one area that should have been discussed more.