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"Can You Be at the Fed in 40 Minutes?" - What BNY's CEO learned from the Lehman Weekend
"Can You Be at the Fed in 40 Minutes?" - What BNY's CEO learned from the Lehman Weekend
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Субтитры (17)
0:00
The moment that's probably most seared in my mind was over the Lehman weekend.
0:03
I got a call, I remember I'd just come back from the gym and my phone rang and it was like 9:00am.
0:10
I was asked by the CFO of Goldman at the time, can you be at the Federal Reserve in 40 minutes?
0:16
And I was like, "why? What's happening?"
0:18
"Just come down."
0:19
Some people crumble under that kind of pressure. Other people thrive. It's very clear you thrived.
0:25
Did you enjoy it in some way?
0:27
I didn't think about it that way. So,
0:29
I didn't enjoy it. I learned a ton from it and with the benefit of hindsight I benefited
0:34
significantly from those learnings all of those different experiences.
0:38
The biggest lesson was "And this too shall pass."
0:41
Obviously, firms had been failing.
0:44
Bear Stearns failed. Lehman Brothers failed. Merrill Lynch essentially failed and was sold.
0:50
I mean it could have ended with the collapse of the US financial system, at least in theory.
0:55
And so that feels existential. But understanding and seeing that, understanding how you process
1:00
that, and then remembering that you know what, the sun actually will come up tomorrow. It may
1:05
be different, the world may be different. It may be personally unsettling. It may be disruptive.
