punctum books
Where Has All The (Xeno)money Gone?
- Angus Cameron (author)
Chapter of: Extraterritorialities in Occupied Worlds(pp. 137–155)
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| Title | Where Has All The (Xeno)money Gone? |
|---|---|
| Contributor | Angus Cameron (author) |
| DOI | https://doi.org/10.21983/P3.0131.1.10 |
| Landing page | https://punctumbooks.com/titles/extraterritorialities-in-occupied-worlds/ |
| License | https://creativecommons.org/licenses/by-nc-sa/4.0/ |
| Copyright | Cameron, Angus |
| Publisher | punctum books |
| Published on | 2016-02-16 |
| Long abstract | The graph climbs steadily, business as usual, shares trading nor-mally almost up to the moment of collapse. Things start to dip a little as media reports proliferate, but nothing catastrophic. Then, suddenly on September 15, 2008, the graph drops like a stone — the point at which the global economy goes into free fall. This was the moment us Bank Lehman Brothers collapsed and became the first major casualty of the “credit-crunch.” Lehman did not cause the ensuing crisis single-handedly (though they cer-tainly did their bit), but their demise has nevertheless come to symbolize the collective insanity and ineptitude that gripped the financial markets and institutions at the time. In the days following the Lehman collapse we all learned more about “sub-prime markets,” “toxic debt” and “market correc-tion” than we’d ever wanted, and that us$ trillions had been “wiped” from the value of the global economy. That’s the disappearance everyone knows about. |
| Page range | pp. 137–155 |
| Print length | 19 pages |
| Language | English (Original) |
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