10 Years After the Financial Crisis: What Have We Learned?
Where were you in September 2008? Over the weekend of September 13 & 14, 2008, it became obvious that Lehman Brothers was in serious financial trouble and probably would not survive. Being on the “inside” of the financial industry, I (Tim) anticipated life was about to change for me and a lot of other Americans. So as our family spent the weekend at a soccer tournament, I was compiling my “depression checklist” in between soccer games. While I was comfortable with my investment strategy, my plan included a number of cost-cutting items like growing a garden, dropping some of our kid’s expensive activities (like soccer) and pooling resources with extended family. It also included some opportunistic to-do’s like drawing on our home equity line, looking for investment opportunities and maybe starting a business.