helped avoid what could have been a massive bank failure and sparked another confidence crisis in the stability of the global financial system.
"We have to appreciate that in the fixed income world, especially because of the move in volatility and the drop in liquidity, it's probably been like a Great Financial Crisis event in the credit markets. We saw last week a lot of large macro funds experience drawdowns that only happen in systematic-like events, so I think in credit there was something pretty big that happened," Lee told CNBC on Monday.
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I think by now we all know, the true indicator of when the banking crisis is over is when jimcramer tells everyone to short the banks!