"If We Don't Do This, We Won't Have An Economy On Monday"

Joe Nocera and the NYT crew tell the story of the 36 hours that almost killed Morgan Stanley (MS) and Goldman Sachs (GS) and shut down the credit markets, prompting Ben Bernanke and Hank Paulson to pull the trigger on their bailout plan.

The story reads like John Kenneth Galbraith’s “The Great Crash,” which chronicled the hour to hour events of 1929. Of course, in this case, it isn’t over yet.

See Also: Warren Buffett: “We have terrible, terrible problems.”

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