Remember the 08 Financial Crash? How bad did it get you?

[MalikX]

I was 19/20 then. It was a part of the reason I went to college. I was working retail back then and I wasn't really interested in the news or finance or the economy so I didn't understand what was going on besides that the big banks had caused the crash. I remember going from being full time to basically working 8 hours a week. My ribs were touching It's funny how everything ripples throughout the economy. Most people had probably lost their jobs, houses and obviously weren't spending money on luxuries anymore. I said fukk that...applied to college that spring and was 5 states away the next fall. In hindsight, I wish I had the foresight to think about investing. If you put like $5K into the market, you would be walking away with 10x that now. Some of these companies had stocks that dropped down to a few dollars. The next crash I'm ready

 

[NYK Loyalist]

I lost my job and thousands in my 401k by the end of 08'. I didn't mind too much though cause I had a good amount saved and got about 5 months severance. Plus I didn't have any kids at that time. I kind of looked at it like a vacation. By the end of 09' I was back on my feet and have been ever since

 

[Eastside Get The Money]

nikka what. I was staying in a different town for college (one of the richest in MI and in the country) and gas was $4.74 I'll never forget that number. There were days I couldn't drive to class

 

[Strapped]

Did the staff give him a 2 thread per day quota

 

[ISO]

I was in middle school and I grew up in poverty in the Bronx so it didn't affect me much. I just remember gas prices being through the roof and common things being more expensive. All of a sudden a slice of pizza went from $2 to $2.75, also remember a lot of businesses closing down, mom and pop sneaker stores I used to browse after school no longer being there. shyt like that, I could only imagine experiencing recession like that as an adult.

Also, a lot of Bernie Madoff news that cac pulled up a multibillion dollars ponzi scheme, that's G.O.A.T. FINESSE

Also, remember a lot of hope around Barack Obama's presidency and fixing all that shyt

Owning a whip at $4.75 a gallon especially back then pre the inflation we have today and lower wages?

Something's wrong with you.

Do you want their names or something? (Which you won't get)

I had friends at Bear Sterns, Lehman, and Barclays who got ultra-fukked in 08....and a lot more who got utterly slammed in 09. Had to move to DC/ATL/etc just to try and find work.

Who are YOU homie to even question me on some shyt like that?

You thought we just all sat on our asses after high school?

This shyt was 10 years ago, Napoleon is pushing 40

 

[BushidoBrown]

I remember just seeing EVERYONE losing their houses and shyt and it seemed entirely preventable.

take out mortgages you cant afford to pay brehs

I had friends on Wall Street who had to work retail

u know what they did on wall st? like what departments they worked in?

 

[Hard Times Nakamura]

Graduated in 09 and didn't really get on my feet in a real corporate gig until '11. Now in '17 after bouncing around to get my money up I'm finally in a good one earning 100k+ I'll want to be at for hopefully at least 10 years.

Hopefully by 10 years from now I'll be making 250k+, have paid off these loans by age 40 with a nice sizable investment portfolio of 50-75k, no CC debt and mortgage qualification. Not as good as some others (in NYC) but not bad either.

Here you really need at least 250k (individual ) to ball out, needless to say most people won't ever truly reach that without exceptional skills/talent/connects/luck.

 

[patscorpio]

i honestly had a come up in 08..a promotion..was able to move into my own spot...the first year i was actually able to go away on vacation..the first in like 4 years..i went on 2 that year

the only thing that was a bytch was the gas..4-5 bucks for regular? shyt i was putting like 70-80 bucks in my tank like every 4 days smh.

it wasnt until after 2010 that i start to feel it a little...2012 for sure i felt it

 

[NkrumahWasRight Is Wrong]

Was in college, which sucked because the jobs werent there and i didnt have any money to invest. Ill be ready next time

 

[Cynic]

It actually improved my skillset and the income of my business at the time

 

[NaijaProdigy Redux]

I was a summer analyst (after junior year) at one of the bulge bracket investment banks. Frightening summer in NYC.

Watched Bear Stearns go down in March and when JPMorgan bought it, a lot of my friends who were supposed to go to Bear after graduation watched their FT offers get revoked. Other friends who worked there were laid off.

Watched Lehman Brothers teeter on the brink of extinction the entire summer only for it to finally happen in September. Similarly, I had friends who had just moved to the city after graduation to work there -- only to be laid off a few months in.

Grew up in Wall Street crowd...family friends lost millions....acquaintances committed suicide....Dad constantly coming home and saying blood is running in the streets

One of the positives is that it created a huge buying opportunity that I took advantage of.

 

[☑︎#VoteDemocrat]

take out mortgages you cant afford to pay brehs


u know what they did on wall st? like what departments they worked in?

The friends I had were just out of out at that point and still working as year 1-3 analysts.

 

[Dirty D]

Living in Canada I wasn't too affected, but...

I worked for this company:
State Street Corporation - Wikipedia

Most major financial institutions you've ever heard of have a relationship with State Street.

I was in the Derivatives division, running a total return swaps administration team. They promoted me to the head of the team just months before the crash.

A lot of ad hoc reporting requests came up around that time.

I left less than a year later for a pension fund.

 

[levitate]

Was right in the middle of it just as I finished undergrad.

Couldnt land a job so I said fukk it and went into the masters program.

 

[Mensch Fontana]

4 god damn week furlough