Aaron’s Reviews > In Fed We Trust: Ben Bernanke's War on the Great Panic > Status Update
Aaron
is on page 5 of 336
The author describes the actions of the Fed and Congress their attempt to stop the bleeding caused by the financial crisis,but I wouldn't necessarily call the major issue of the crisis one of a bleed-out.
I'd describe it more like a heart attack or a strangulation: Short term credit lines, the lifeblood of day to day operations at Americans largest firms essentially shut down at the same time as markets plunged
— Jan 21, 2019 12:04PM
I'd describe it more like a heart attack or a strangulation: Short term credit lines, the lifeblood of day to day operations at Americans largest firms essentially shut down at the same time as markets plunged
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Aaron
is on page 5 of 336
That meant that firms could not sell their assets to meet their operation expenses without taking huge and unnecessary losses: essentially this meant that even solvent firms had the real possibility of declining bankruptcy.
— Jan 21, 2019 12:08PM
