Masters in Business What Went Wrong in Great Financial Crisis Stimulus with Reporter Jon Hilsenrath
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Oct 31, 2025 Jon Hilsenrath, a former chief economics correspondent at the Wall Street Journal and founder of Serpa Pinto Advisory, shares his insights on the Great Financial Crisis. He discusses why AIG was saved while Lehman Brothers wasn't, and critiques the flaws in fiscal policy during the crisis. Hilsenrath also reflects on the shifting dynamics within the Fed and the implications of today's information revolution. He highlights the challenges of inequality and the impact of automation on workers, sparking a thought-provoking look at the future of the economy.
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Hong Kong Crisis Shaped His Fed Reporting
- Jon Hilsenrath was in Hong Kong during the 1997 handover and the Asian financial crisis, which launched his deep understanding of bank collapses.
- Covering Peregrine's collapse taught him lessons that later helped reporting on Bear Stearns and Lehman Brothers.
Reporting From 9/11's Front Lines
- On 9/11 Jon was across the river and saw the first plane hit while heading to a conference at the World Trade Center.
- He interviewed witnesses on the street and reported through a chaotic, dangerous day.
Crisis Response Was Sequential Panic
- The Fed scrambled in 2008, building facilities and firefighting as failures cascaded from money market strains to AIG threats.
- Policymakers panicked and used every available tool to stabilize the system quickly.
