O'Reilly logo

Financial Crisis Inquiry Report, Authorized Edition by Financial Crisis Inquiry Commission

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

20
CRISIS AND PANIC
046
September 15, 2008—the date of the bankruptcy of Lehman Brothers and the takeover of Merrill Lynch, followed within 24 hours by the rescue of AIG—marked the beginning of the worst market disruption in postwar American history and an extraordinary rush to the safest possible investments. Creditors and investors suspected that many other large financial institutions were on the edge of failure, and the Lehman bankruptcy seemed to prove that at least some of them would not have access to the federal government’s safety net.
John Mack, CEO of Morgan Stanley during the crisis, told the FCIC, “In the immediate wake of Lehman’s failure ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required