This study is an expansion by AI of 2 records published by Skeptron, a studio in the RISCON family, and of the public-domain source texts listed below. Every sentence in a block quote is word for word either a record's own or a passage of a source text saved with this study, and its source line names which; the rest is AI writing. Skeptron's records are modern summaries of historical episodes written for a platform, not archival documents; they keep some of what the actors wrote and drop the rest, and the paper says which where it matters. The readings through the works named are this study's interpretation. Nothing in this study is advice on financial, legal or policy decisions.
| Case | Studio | Record |
|---|---|---|
| The LTCM Recapitalisation | Skeptron | https://skeptron.risconlabs.com/questions?question=HQ-HC2-LTCM1998-01 |
| Lehman's Bankruptcy | Skeptron | https://skeptron.risconlabs.com/questions?question=HQ-HC1-LEHMAN2008-01 |
The source texts this study read are saved with it, and the passages it quotes from them stand in them word for word:
| Text | File | Address |
|---|---|---|
| Alan Greenspan, Testimony before the Committee on Banking and Financial Services, U.S. House of Representatives, on the private-sector refinancing of Long-Term Capital Management (1 October 1998): full text (Private-sector refinancing of the large hedge fund, Long-Term Capital Management) | sources/greenspan-testimony-1998-10-01.md | https://www.federalreserve.gov/boarddocs/testimony/1998/19981001.htm |
| Board of Governors of the Federal Reserve System, press release of 14 September 2008: initiatives to provide additional support to financial markets, including enhancements to its existing liquidity facilities: full text (Federal Reserve Board announces several initiatives to provide additional support to financial markets, including enhancements to its existing liquidity facilities) | sources/fed-board-press-release-2008-09-14.md | https://www.federalreserve.gov/newsevents/pressreleases/monetary20080914a.htm |
| Walter Bagehot, Lombard Street: A Description of the Money Market (1873): the reserve of the Bank of England, and lending in a panic (Chapter II and Chapter VII, excerpts) | sources/bagehot-lombard-street-1873.md | https://www.gutenberg.org/cache/epub/4359/pg4359.txt |
The records were read on 2026-10-06. The texts were fetched on 2026-10-06. This study was written on 2026-10-07.
Bibliography
- Walter Bagehot, Lombard Street: A Description of the Money Market (1873).
- Henry Thornton, An Enquiry into the Nature and Effects of the Paper Credit of Great Britain (1802).
- Charles P. Kindleberger and Robert Z. Aliber, Manias, Panics and Crashes: A History of Financial Crises (2005).
- Barry Eichengreen, Hall of Mirrors: The Great Depression, the Great Recession, and the Uses and Misuses of History (2015).
- Thomas M. Humphrey, Lender of Last Resort: The Concept in History (1989).
- Michael D. Bordo, The Lender of Last Resort: Alternative Views and Historical Experience (1990).
- Charles Goodhart, The Evolution of Central Banks (1988).
- Paul Tucker, Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State (2018).
- Perry Mehrling, The New Lombard Street: How the Fed Became the Dealer of Last Resort (2011).
- Gary B. Gorton, Misunderstanding Financial Crises: Why We Don't See Them Coming (2012).
- Douglas W. Diamond and Philip H. Dybvig, Bank Runs, Deposit Insurance, and Liquidity (1983).
- Roger Lowenstein, When Genius Failed: The Rise and Fall of Long-Term Capital Management (2000).
- Donald MacKenzie, An Engine, Not a Camera: How Financial Models Shape Markets (2006).
- Financial Crisis Inquiry Commission, The Financial Crisis Inquiry Report (2011).
- Laurence M. Ball, The Fed and Lehman Brothers: Setting the Record Straight on a Financial Disaster (2018).
- Ben S. Bernanke, The Courage to Act: A Memoir of a Crisis and Its Aftermath (2015).
- Adam Tooze, Crashed: How a Decade of Financial Crises Changed the World (2018).
- United States Congress, Federal Reserve Act (1913).
- Alan Greenspan, Private-sector refinancing of the large hedge fund, Long-Term Capital Management (1998): testimony before the House Committee on Banking and Financial Services, 1 October 1998.
- Board of Governors of the Federal Reserve System, Federal Reserve Board announces several initiatives to provide additional support to financial markets, including enhancements to its existing liquidity facilities (2008): press release of Sunday 14 September 2008.