We often get big stories wrong - be a skeptic?

 

Big stories that media and analysts got wrong from a number of sources. Here are some highlights, yet we have to ask the question - should you be a skeptic? What is the cost of being a skeptic? 

Enron (2001)

Global Crossing (2002) 
WorldCom (2002)
New Century Financial (2007)
Bear Stearns (2008) 
Lehman Brothers (2008)
Luckin Coffee (2020)
Wirecard (2020)
Silicon Valley Bank (2023)
First Republic Bank (2023)

| 1 | Lehman Brothers | ~$691 billion | September 2008 | Investment Banking |
| 2 | Washington Mutual | ~$328 billion | September 2008 | Banking / Savings |
| 3 | WorldCom | ~$104 billion | July 2002 | Telecommunications |
| 4 | General Motors | ~$91 billion | June 2009 | Automotive |
| 5 | CIT Group | ~$80 billion | November 2009 | Commercial Lending |
| 6 | Enron | ~$65.5 billion | December 2001 | Energy / Trading |
| 7 | Conseco | ~$61 billion | December 2002 | Insurance / Finance |
| 8 | MF Global | ~$41 billion | October 2011 | Brokerage / Derivatives |
| 9 | Chrysler | ~$39 billion | April 2009 | Automotive |
| 10 | Thornburg Mortgage | ~$36.5 billion | May 2009 | Mortgage Lending |
| 11 | Pacific Gas and Electric | ~$36 billion | January 2019 | Utilities |
| 12 | Texaco | ~$35.9 billion | April 1987 | Oil and Gas |
| 13 | FGIC | ~$26 billion | August 2010 | Bond Insurance |
| 14 | Refco | ~$33 billion | October 2005 | Brokerage / Futures |
| 15 | Bed Bath and Beyond | ~$4.4 billion | April 2023 | Retail |