It's definitely different this time...
The 2008 analog lines the current trajectory up with August 2008 right after Treasury Secretary Paulson told the world reassuringly that:
"Our economy has got very strong long-term fundamentals. And you know, your policy-makers and regulators here - we're very vigilant."
And we all know what happened next...
Could never happen again?
Yeah you're probably right...
If "everything's fixed," then why is the number of distressed debt issuers still the highest "since Lehman."
And the answer is not - it's just energy and it's different this time.
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