How Twitter Reacted To Lehman's Bankruptcy
Twitter only had around 200,000 people using the service every week when Lehman Brothers died five years ago today. Here's a look at how they responded in real time.
Five years ago, Twitter was a shadow of its current self, mostly power users and news sites.
Starting late Sunday night and early Monday morning, word came through that Lehman Brothers, America's fourth largest investment bank, was dead.
Not only was Lehman dead, but Merrill Lynch had been sold to Bank of America lest it too face bankruptcy, and the insurance giant AIG was on the verge of bankruptcy.
Almost immediately, people started to panic, correctly realizing that the world financial system was on the verge of freezing up and collapsing.
Naturally, thoughts immediately turned to the stock market, which would go through one of its worst single day losses in history.
Senator Obama was in Colorado for a campaign event. The Lehman Brothers bankruptcy and the subsequent economic panic would help propel him to the White House.
This guy basically got it right