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When the World's Economy was Saved
Oct. 2nd, 2014 07:58 pmOn 9-11, it was no coincidence that the target was the Twin Towers, the heart of the economic empire that is America. We were involved with thousands of deaths, Ground Zero, an undeclared war. If the economy had collapsed with the towers, our recovery would have been agonizing. We might have taken the world banking system down with us.
But there was a man with nerves of steel in charge in Washington DC that day, and it wasn't Alan Greenspan.
And--ready for it? We thought that Y2K was at best something we'd taken care of, something that was behind us and history. Who knew that the emergency features set up for Y2K would save our economy?
We scream a lot about Wall Street. But in the aftermath 9-11, the quiet heroes of the Fed and the banking industry did their jobs like they were rebuilding Apollo 13 with the clock running.
Read on and be awed.
But there was a man with nerves of steel in charge in Washington DC that day, and it wasn't Alan Greenspan.
And--ready for it? We thought that Y2K was at best something we'd taken care of, something that was behind us and history. Who knew that the emergency features set up for Y2K would save our economy?
We scream a lot about Wall Street. But in the aftermath 9-11, the quiet heroes of the Fed and the banking industry did their jobs like they were rebuilding Apollo 13 with the clock running.
Read on and be awed.
