Technology Slice

Avoiding the Abyss

Current government officials including current and former Treasury Secretaries often refer to the measures employed to correct the financial crisis in the fall of 2008 as avoiding the “abyss”. Indeed, if panic had continued to spread the potential collapse of the house of cards built on credit leverage would have been significant. But questions arise as to the appropriateness of the actions taken and why the state of the financial industry was in such dire straits.

Tags: Abyss, Appropriateness, Collapse, Current Government Officials, Dire Straits, Financial Crisis, House Of Cards, Leverage, Measures, Secretaries, Treasury
Posted in General