Question

Why is BNP Paribas important in the story of the financial crisis? (What happened? What month of what year? Why was this important?)

Answer 1

BNP Paribas was one of the funds which sensed the situation early and in order to secure itself from the meltdown froze three of it's funds.

BNP Paribas became aware of the situation early as it froze three of it's funds on 9 August 2007. It became aware of the that financial crunch and liquidity. If other firms would have followed the same model by applying financial urgency, the big meltdown could not have been so severe.