Who was to be next ?
For the past five years investors have lived in fear of another “Lehman Moment” that would catapult financial markets into chaos.
Fox Business Network reports that thanks in part to the emphatic response from governments, a repeat of that scary bankruptcy filing by Lehman Brothers in September 2008 has failed to emerge, much to the shock of economic doomsayers who warned another cataclysmic event was just around the corner.
Of course, that doesn’t mean there’s been a shortage of potential crisis-inducing shocks. Everything from Europe’s sovereign debt mess and the Japanese tsunami to the downgrade of U.S. debt and the fiscal cliff have threatened to approach, but failed to actually achieve, Lehman status.
In the days and weeks after Lehman’s $639bn collapse, traders spoke often about concern in the markets of 'another shoe to drop', or another catastrophic event.
'In those days people were scared to death', Ted Weisberg, a veteran NYSE floor trader at Seaport Securities, told FOX Business.
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