THURSDAY OCTOBER 23
That Was ‘D-Day’? Could’ve Fooled Us

Maybe Citadel’s Kenneth Griffin had it right when he suggested in a panel discussion yesterday that the market’s fear has boiled over to such an extent that reality has been more or less suspended. In a stark example of how rumor and conjecture got out of control (again) in the credit-default swaps tied to Lehman, here’s what really happened on quote-unquote D-day.

October 2008

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