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After the Bell - A Precautionary Measure
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A Precautionary Measure
Eighteen years ago on this date, Lehman Brothers filed for bankruptcy — an institution that held assets it couldn't sell quickly and funded them with borrowing that had to be renewed constantly, some of it overnight. Boujie opens there, carefully: the parallel isn't that a crisis is arriving. It's that financing conditions are an input, not a backdrop, and they can move faster than the assets they finance.
Tuesday's session proved the point. All three major indexes…
The skinny
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