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

  • Clinton, Bill: ...tearing down these antiquated walls and granting banks significant new authority...

  • Henry Paulson: There is not a bank in the world that has enough money in its vault to pay its depositors. It's all built on trust.