Lehman declared bankruptcy on Monday September 15th 2008, resulting in the stock plunging 93% from its previous close on September 12. Lehman stock plunged 93% between the close of trading on September 12, 2008, and the day it declared bankruptcy.
The bankruptcy of Lehman Brothers on September 15, 2008 was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganization. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history, involving more than US$600 billion in assets.
The bankruptcy triggered a 4.5% one-day drop in the Dow Jones Industrial Average, then the largest decline since the September 11, 2001 attacks. It signaled a limit to the government's ability to manage the crisis and prompted a general financial panic. Money market mutual funds, a key source of credit, saw mass withdrawal demands to avoid losses, and the interbank lending market tightened, threatening banks with imminent failure. The government and the Federal Reserve system responded with several emergency measures to contain the panic.
How did Apple for instance react back in the days?
Stay hungry, stay foolish.
2000 (Internet) => 2017 (Bitcoin)
2008 (Internet) => 2021 (Bitcoin)
The bankruptcy of Lehman Brothers on September 15, 2008 was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganization. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history, involving more than US$600 billion in assets.
The bankruptcy triggered a 4.5% one-day drop in the Dow Jones Industrial Average, then the largest decline since the September 11, 2001 attacks. It signaled a limit to the government's ability to manage the crisis and prompted a general financial panic. Money market mutual funds, a key source of credit, saw mass withdrawal demands to avoid losses, and the interbank lending market tightened, threatening banks with imminent failure. The government and the Federal Reserve system responded with several emergency measures to contain the panic.
How did Apple for instance react back in the days?
Stay hungry, stay foolish.
2000 (Internet) => 2017 (Bitcoin)
2008 (Internet) => 2021 (Bitcoin)
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Maybe this is a double bottom for bitcoin. Why? Because alts look extremely bullish, bitcoin dominance is going down and xrp.d looks exactly like march 2017. Not just xrp dominance though, total2 looks super bottomed out. Change of narrative. Expect a surprise tsunami xrp pump, also watchout for Algorand. Something's brewing.
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