It was Sept. 10, 2018, nearly 10 years to the day that the bankruptcy of the investment bank Lehman Brothers sparked a global financial panic.
The short, intense crisis Mr. Aas created was a precarious moment for the financial industry. It cast doubt on the safety of institutions like Nasdaq Clearing, which were supposed to prevent another meltdown, not create one. Within the small and dispersed community of regulators and central bankers whose job it is to maintain the infrastructure of global commerce, the incident provoked a debate about contagion that continues to rage.
The closing line is spot on.