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2016-05-19

Fighting the Next Global Financial Crisis The latest progress reports from the Financial Stability Board (FSB) in Basel Robert J. Shiller


The day after the Lehman Brothers bankruptcy was announced, a major United States money market fund, Reserve Primary Fund, which had invested in Lehman debt, was in serious trouble. 

With assets totaling less than it owed to investors, the fund seemed to be on the verge of a run. 

As panic rose among the public, the federal government, fearing a major run on other money market funds, guaranteed all such funds for one year, starting September 19, 2008.




Project Syndicate 18 May 2016

Lehman Brothers

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