3 ms·
It's also leaving out non-FDIC bank failures like Lehman, Bear Stearns et. al. which would make the '08 crisis much (MUCH) larger. Basically post-2008 the clas
by ajross 4y ago
It's also leaving out non-FDIC bank failures like Lehman, Bear Stearns et. al. which would make the '08 crisis much (MUCH) larger.
Basically post-2008 the class of "investment banks" basically disappeared. But none of that is shown in this chart.
- ivalm 4y agoThey didn't hold deposits. So it's kind of reasonable. They are called "bank" but they aren't the same kind of institution.
- dtech 4y agobut it's misleading. The financial crisis was basically triggered by those, and not by the ones shown here in 2008-2009.
- bhaak 4y agoBut they held "value" that was "gone" from one day to the other which triggered the financial crisis. In reality they weren't worth anything but the realization that those values were worthless was the trigger. But those values were on the balance sheets and should therefore be visualized as well.
- ajross 4y agoOnly where "deposits" are defined as FDIC-insured consumer accounts. Clearly they held other people's money for them, which is pretty close to the economic definition of a bank.
- NoboruWataya 4y agoI can understand why these banks were omitted but it completely changes the picture. Lehmans and Bear Stearns were the bank failures of 2008.
- ekianjo 4y agoAre you trying to say that the current crisis is nothing ? These are famous last words.
- roflyear 4y agoVoices of moderation are just that.