Diary of a Very Bad Year Chapter 5 - End of Year, End of an Era
This is part of my series retelling Diary of a Very Bad Year. Today we’re covering Chapter V.
It’s January 16, 2009. The Dow is at 8,281. Unemployment is 7.6 percent. Over 300,000 foreclosures this month. And HFM just spent his New Year’s Eve chasing bank traders on ski slopes to get year-end prices for his portfolio. Welcome to year-end closing on Wall Street.