IDEAS home Printed from https://ideas.repec.org/p/osf/lawarc/bqvpy_v1.html
   My bibliography  Save this paper

Predicting a Heart Attack: The Fundamental Opacity of Extreme Liquidity Risk

Author

Listed:
  • Fisher, William O.

Abstract

After 150 years of business, Lehman Brothers ran out of cash and credit and filed for bankruptcy on September 15, 2008. As a publicly traded company, Lehman had filed all the reports required by U.S. securities law. But the hundreds of pages of words and numbers provided no timely warning of lurking liquidity death. The risks of triparty repurchase financing and the endgame Lehman would have to play if a selfmagnifying credit drain hit were, as it turned out, inherently opaque. Disclosure, the traditional securities law “fix,” was destined to fail in this case, raising the question of whether it might fail in others as well.

Suggested Citation

  • Fisher, William O., 2017. "Predicting a Heart Attack: The Fundamental Opacity of Extreme Liquidity Risk," LawArchive bqvpy_v1, Center for Open Science.
  • Handle: RePEc:osf:lawarc:bqvpy_v1
    DOI: 10.31219/osf.io/bqvpy_v1
    as

    Download full text from publisher

    File URL: https://osf.io/download/5914b153b83f6902500da43f/
    Download Restriction: no

    File URL: https://libkey.io/10.31219/osf.io/bqvpy_v1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osf:lawarc:bqvpy_v1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSF (email available below). General contact details of provider: https://lawarchive.info/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.