I'm here editing The Gods of Greenwich and thinking about 2008, which is the year my story takes place. So in the current theme of light summer reading on Acrimoney, here is a snippet from Chapter Thirty-Five. The paragraph is based on something that really happened the day Lehman Brothers failed, September 15, 2008.

Early in the morning an unattended computer at KfW Bankengruppe wired out 300 million Euros. It expected 426 million dollars in return, a routine “foreign exchange swap.” The German bank soon discovered, however, that it had flushed the money down a toilet of bankruptcy litigation. Or driven 2,130 Ferraris off a cliff. Or taken a wrecking ball to Padres stadium in San Diego.

I have no idea whether KfW recouped any money from Lehman Brothers. But with the image of a wrecking ball in mind, I think you will enjoy the following video. The first ten seconds are critical.

Norb Vonnegut

About the author

Norb Vonnegut wrote 178 articles on this blog.

Do you ever feel the financial news makes no sense? Do stories leave you with more questions than answers? I created Acrimoney to discuss Wall Street’s behavior behind the headlines. As a veteran of a wealth management business that exceeded $1 billion in assets, I offer insight into the people and the “doings” that affect your money. I’ll start the discussion. But I hope you’ll jump in and say what you think.

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