About the outline of the story

Alisha 2022-10-29 13:35:07

It is not necessarily accurate to memorize while watching, mainly to prevent yourself from getting dizzy.

Lehman has a problem → ask Koreans for help → find peers to buy → the government saves two houses → government saves bureau asks other agencies to save Lehman → Merrill Lynch also has problems → decides to give priority to saving Merrill → Turnaround: Barclays Bank agrees Acquired Lehman, other banks are willing to help → Barclays backtracked → The government forced Lehman to go bankrupt → Lehman decided to go bankrupt → Other financial institutions were also crumbling → The government rescued a few too big to fall institutions → The entire financial system fell into a crisis of confidence → The government proposes a plan to purchase non-performing assets → The plan fails → A plan for the nationalization of commercial banks is proposed (government purchases bank shares) → The plan is implemented (not exactly as expected) → The crisis will end after a period of time

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Extended Reading

Too Big to Fail quotes

  • Mack's Assistant: Tim Geithner's calling again.

    John Mack: Cover your ears. You tell Tim Geithner to fucking blow me. I'm trying to save my company.

  • Michele Davis: They almost bring down the US economy as we know but we can't put restrictions on how they spend the $125 billion we're giving them because... they might not take it!

    [the Assistant Secretary of the Treasury for Public Affairs upon hearing that the 9 bank CEOs may refuse to take free money from the federal government if they had to be held accountable for how they spent it]