Hacker News new | past | comments | ask | show | jobs | submit login

This seems like some pedestrian financial agreements.

What is the TLDR on why it is called 'Doomsday'?




Its explained on the first page italicized

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.


Every company has a disaster recovery plan. Seems like calling it 'Doomsday', is the question. It seems rather dramatic naming for a bank.


I think the imminent collapse of the US economy is aptly named "Doomsday" to the Federal Reserve.

I mean, you bring up a disaster recovery plan for companies, but is it REALLY a "disaster"?


For the company and its employees, the answer may well be "yes."


> 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.

Economic system failure runbook.

https://www.wsj.com/articles/sun-shines-on-new-york-fed-doom... | https://archive.today/YbgG7

https://www.crisesnotes.com/the-new-york-federal-reserves-do...




Join us for AI Startup School this June 16-17 in San Francisco!

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: