September 15, 2020
For educational institutions
Ch 2 - My Journey of Disillusionment
⟶ Updated 7 Dec 2018 ⟶
List of edits
July 2007 - interbank interest rates spike - $3 trillion in subprime mortgages
1999 Revision made to the Glass-Steagall Act. This removed the glass wall between banking and investment operations.
September 11 2001 Terrorist attacks on the twin towers
After 2001 Almost anyone can get a mortgage
2012 Wells Fargo settled suit for $175 million paid to 30,000 victims for targeting black neighborhoods for so-called ghetto loans.
2011 Author starts job at Intent Media as a data scientist
September 2008 Lehman Brothers files for bankruptcy. This bank owned 20% of D.E. Shaw, where the author was working.
2009 - Author leaves D.E. Shaw - The lessons of the market collapse had brought no new direction to the world of finance and had instilled no new values.
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