Introduction

1. Primetime for Subprime

Currency crosses—Black boxes—Death of an expert (September 30, 2007)

2. The Death of Bear

At the office—Run on Bear—Argentina—Night thoughts of an HFM—Zombie banks—Florida (March 26, 2008)

3. On the Eve

World loves dollars—Fannie & Freddie—How bad is it really?—Why banks hate bankruptcy—An existential question (September 4, 2008)

4. How Bad Is it?

Death of Lehman and shame of the Reserve Primary Fund—Central banks respond—AIG bailout—Effects on real economy—Trading with Martians—The price of bread—Terrifying moments (December 11, 2008)

5. Year-End Closing

Layoffs—Detroit in trouble—Human Resources—Problems with TARP—HFM in Obama administration?—HFM as regulator—Madoff—Obama’s stimulus, HFM’s concerns (January 16, 2009)

6. Populist Rage

Visit to China—Dollar as a reserve currency—Is Citi a zombie?—Goldman runs everything—n+1 demands an accounting—HFM announces mini-sabbatical (April 15, 2009)

7. Life After the Crisis

HFM fixes toilets, duns debtors—Missed opportunities—Smash it up!—The fate of the tallest building in Europe—Brazilian meatpackers—Stress tests—More on Obama—HFM’s regrets (May 18, 2009)

8. Vacation Plans

Memories of Rome—Crime and punishment—150 Years—Things looking up, for Wall St.—Long-Term Capital Management (or, what happens to failed HFMs)—The end of investment banks as we know them (July 2, 2009)

9. Farewell

California ghost towns—Unemployment—Return of the low-margin bankers—Bullies and betrayers—Harvard blows up a hedge fund—Tears for fears—A shocking announcement (August 27, 2009)