One of the most challenging things I’ve done lately was to prepare, memorize, and deliver a TEDx talk at Yale earlier this month. Called “Trust, Lies and Bernie Madoff,” it explores the paradox of trust. Trust is both a nourishing, enriching part of life and an essential element of a healthy economy and a healthy society. BUT it is also “the only weapon a con man needs to destroy his victims’ lives.” How should we navigate the dual nature of trust when we handle our money? See my suggestions in the video above.
“Henriques notes the crash was actually seven years in the making, and she also demonstrates how it was the predicate to the financial crisis of 2008. Sadly, investors, regulators and bankers failed to heed the lessons of 1987, even as the same patterns resurfaced.”
Diana Henriques talked about her book, A First-Class Catastrophe, about the worst day in stock market history. On that day, October 19, 1987, the market lost 22 percent of its value. She spoke with Bloomberg View columnist Joe Nocera.
“After two weeks of euphoric trading and setting new records, the market suddenly pivoted on a dime and plunged 115 points, soared back up and then soared back down to the closing bell, leaving everybody aghast.”