A Veteran Finance Pro Who Called the 2008 Crash Says 4 Risks Signal the Next Crisis Could Be Worse

A veteran finance pro who called the 2008 crash says 4 risks signal the next crisis could be worse

The NASDAQ index fell on September 16, 2008 along with global equities days after the Lehman Brothers bankruptcy.GEOFF CADDICK/AFP via Getty ImagesA handful of compounding risks threatens the market, Wall Street veteran Richard Bookstaber said.Bookstaber , who foreshadowed the Great Recession, said the next financial crisis may be even worse.Stock market concentration, private credit, and AI fears are some of the key stressors he flagged.Risks o…

The 2008 Cassandra is Sounding the Alarm Again—And This Time It Might Be Worse

Remember that guy who saw the 2008 financial crisis coming? Yeah, Richard Bookstaber. He’s back, and he’s not bringing good news. Bookstaber spent decades in the trenches—Morgan Stanley, Bridgewater, the Treasury, the SEC—basically everywhere that matters when money goes kaboom. In 2007, he literally wrote a book that foreshadowed the Great Recession. Now he’s warning that we’re staring down a financial crisis that could make 2008 look like a wa…

The 2008 Crash Called—It Says This Time Could Be Worse

Remember when everyone said “we’ll never see another 2008”? Yeah, about that. Richard Bookstaber, the Wall Street veteran who literally saw the Great Recession coming, is now worried the next financial crisis could make 2008 look like a warm-up act. Bookstaber’s not some doom-scrolling Twitter guy—he spent decades in risk management at Morgan Stanley and Bridgewater, then helped clean up the mess at the Treasury and SEC. So when he says we’re in…