Zu groß für eine Neuordnung?

LONDON: Wirklich guter Journalismus, so heißt es, ist ein erster Entwurf der Geschichte. Too Big to Fail von Andrew Ross Sorkin wird diesem Anspruch mit Sicherheit gerecht. Als Kleindarsteller bei den dramatischen Ereignissen, die Sorkin beschreibt (ich bin in meiner Freizeit ein unabhängiger Direktor bei Morgan Stanley), kann ich bestätigen, dass er die Atmosphäre des Chaos und der Unsicherheit, die im Herbst 2008 in New York herrschte, präzise einfängt.

Es war eine Zeit, als sich die tektonischen Platten des Finanzsystems unter unseren Füßen zu verschieben schienen. Finanzinstitute, die solide wie der Fels von Gibraltar erschienen, erwiesen sich plötzlich als rauchende Vulkane, die drohten, sich unmittelbar in Lava und Asche aufzulösen. Selbst Goldman Sachs verdankt seinen Fortbestand allein der freundlichen Aufmerksamkeit der US Federal Reserve. Auf der anderen Seite des Atlantiks stand die britische Regierung auf einmal als stolzer Eigentümer von über 80% der Royal Bank of Scotland da, die gemäß bestimmten Messgrößen für eine Weile die größte Bank der Welt gewesen war.

Die Erfahrung war eine Lehre für Banken, Aufsichtsbehörden, Notenbanken und Schatzämter, die – was nicht überrascht – auf die Handhabung einer derart umfassenden Krise nicht vorbereitet waren. Es fehlte ihnen an den richtigen Instrumenten und Befugnissen.

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