FLASHBACK: What it was really like as Wall Street and The City of London stared into the abyss in September 2008

OLYMPUS DIGITAL CAMERA

It’s been almost 8 years since the Wall Street crisis, the bailouts, the banker fear mongering, the panic, the implosion of mythic proportions.

It should be mentioned that during the Crash there were banks which were well run and which would have survived the chaos. Post crisis they likely would have thrived. As the market was cleared of the likes of Lehman (which did actually die), Goldman, Bank of America, and the other over leveraged Wall Street beasts new leaders would have emerged. Of course that would have meant that many very rich (or formerly rich) bankers would have been summarily retired with permanent egg on their faces. One can’t have that. Better for the taxpayers, who would soon feel the collapse first hand, to save the bankers with a bailout.

I stumbled across this video in one of my archives last night. I was taken by the fear in the interview. It brought September 2008 rushing back. A month we would be foolish to ever forget.

Unfortunately Youtube will not let me embed this video but one can see it HERE.