B-School Noir · BN-002
She Managed £4.2 Billion When The Spread Widened. She Had Reported The Risk. She Watched On TV.
On August 9, 2007, BNP Paribas suspended withdrawals, causing panic in the financial markets. Oliver Marchant, managing £4.2 billion in funding, had already reported the risks but watched helplessly as queues formed outside bank branches and customers withdrew funds he had lent to others.
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