1. But his actions couldn't have stopped what was going to happen in the US. I wanted to end the story with Carney's appointment in 2013 because that seemed a natural place to close the narrative;The story starts in Spring of 2006 when there was first signs of trouble in the US subprime market. Some of the key decision points are the Northern Rock bank run in 2007 and the Lehman bankruptcy in,2007
2. OIS stands for Overnight Indexed Swap. LIBOR stands for the London Interbank Offered Rate. For more information on the OIS-LIBOR spread see;See Corrigan;Quarterly Analysis Luncheon,2007