The “Doomsday Book” is a compendium of legal opinions, in some cases stretching back decades, that explore the legal limits of the Federal Reserve in the event of a financial crisis.
> The so-called Doomsday Book, an internal document used to guide the Federal Reserve’s actions during emergencies, has long been the subject of intrigue and suspicion. Largely a compilation of legal opinions, the book has been a key resource for the Federal Reserve Bank of New York for decades, allowing it to play a unique and oversize role during financial crises. No other regional Federal Reserve bank has such a resource.
> The book is a living document that records pivotal decisions made during times of financial distress. It played a crucial role in then New York Fed President Timothy Geithner’s decision to rescue Bear Stearns from bankruptcy in 2008.
What is the TLDR on why it is called 'Doomsday'?