The Day Goldman Died Part II

Individuals, companies, countries had put it all on the line to bring on the financial disaster of '08. So-called leaders took it from there digging a hole so deep that only a miracle could restore the world to financial health. Most people had been tricked into thinking that a miracle was at hand. What was at hand was a total impasse. Every country had completely backed itself into a corner having pledged more money in bail outs or guarantees than there was money to be had. That was the calm months before what is likely to be today's storm.

Goldman. Sitting at the head of the table always. Everywhere present like some sort of money god. Too big to fail, too big to save, too cunning to regulate. No matter the language, no matter the currency, Goldman the architech, doing things no one understood and doing them in the dark exposing the world to risk beyond its ability to absorb.

4:45a.m.

I flip on the tv news having exhausted all my trusted online sources and still craving more information. Oh yikes! The demeanor of the news people is serious unlike their usual cutsie borderline flippant style. Cameras are trained on the White House and cutting back and forth to the futures market which is tracking hesitatingly down, but down all the same, 235 points right now to 7655. The experiment gone amuck, the Euro, is breaking down quickly in perfect panic mode joined by the British Pound.

News continues to break. The Japan Prime Minister issues a statement intending to calm the markets: "The Bank of Japan is committed to prudent monetary policy and is ready and able to defend the solvency of its banking system." Spoken from the gate of hell I'm sure. Translation: Collapse is imminent.

For the many who hid out in the Swiss Franc, it's going to be toast for breakfast on this day, connected as the Swiss are to European debt.

"What on earth is the matter with me?" I say to myself. I feel no panic. No fear. Heck, I'm not even surprised. Interested yes. Yet this is a day destined to be much like 9/11 was nine years ago. A life changing, game changing historic day and the question will one day be, "where were you the day the markets collapsed?"

Dow futures down another hundred points at not quite 5a.m.

The White House to make a statement - "shortly" they say. Maybe too late, I say.