Madness, Lies, and Crashes: When Prices Run Free

Daniel Friedman and Daniel McNeill

Chapter 4 in Morals and Markets, 2013, pp 85-100 from Palgrave Macmillan

Abstract: Abstract Financial Armageddon hit Wall Street early Monday morning September 15, 2008. Following a damp weekend filled with ominous rumors, anyone tuning into the morning news heard that venerable Lehman Brothers had filed for bankruptcy, and that Merrill Lynch, stock broker to millions of ordinary investors, had collapsed into the arms of an obscure North Carolina bank that had, a few years earlier, hijacked the Bank of America name.

Keywords: Financial Market; Credit Default Swap; Investment Bank; Idiosyncratic Risk; Home Prex (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33152-6_5

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DOI: 10.1057/9781137331526_5

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