Bank risk manager of the year - Goldman Sachs
Back in September and October 2008, things were looking pretty grim for Goldman Sachs. The collapse of Lehman Brothers on September 15 had put huge pressure on the remaining Wall Street broker-dealers, Goldman and Morgan Stanley. With the acquisition of Merrill Lynch by Bank of America agreed the weekend before Lehman’s demise, market participants began speculating over which of those left standing would be next to fold.
Faced with rocketing credit spreads and an unrelenting outflow of liquidity
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