Crash Course Chapter 1: Three Beliefs

[quote=wiggum]The close collapse of HBOS and RBS does not mean the global financial system came within a whisker of collapse. You highlight text in an newspaper article – "Within hours of collapse" while talking about the GBS, this was in reference to 2 banks, not the GBS. For your "Crash course" to be credible you cannot use typical media fear mongering tactics.That's not to say it's not true, but the way you present it is false. And it's only chapter 1…
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Ironic first post here in the Three Beliefs section.
But since this site is about data, here's some for you.  The idea that the Global Banking system was a mere hours away from collapse is a view that comes from the statements and memoirs of Hank Paulson, Mervyn King and other deep insiders at the time.
Here's the former Exchequer of the UK, Alasdair Darling, in a review article from 2013 talking about those moments in 2008:

‘The most abiding memory is a phone call from Tom McKillop, the chairman of RBS, who phoned me on the morning of October 7, 2008. I was at a European finance ministers meeting in Luxembourg, looking out over a rain-swept industrial estate.
I’d met the bosses of the banks the day before to talk about the bailout package, but we hadn’t told them everything because we hadn’t finalised it. ‘I remember being summoned out of the meeting to talk to Tom McKillop and he said things were just terrible, that money was pouring out of the door. ‘He said, “What are you going to do about it?”
Which I thought was a quite remarkable thing to say – what are YOU going to do about it! ‘I said to him, “We’re almost ready to go. How long can you last?”
I thought he might say maybe a couple of days, and what really shook me was that he said, “Well maybe two or three hours and that’s it.”
‘What was in my mind at that point is that if people thought the biggest bank in the world had failed, there would not be a bank in the western world that would be safe. ‘The risk I have always seen is that people forget just how close we came to a complete collapse and the thing about a collapse of the banks is that it wouldn’t just have been the banks in ruins, it would have been complete economic and therefore social collapse.
People without money can do nothing – you can’t buy your petrol, you can’t buy your food, anything. ‘It was rather like a nuclear war, you know you think it will never happen. And then someone tells you that a missile’s been launched. It was very scary. That moment will stick with me for the rest of my days.’
(Source)

Hmmm…that sounds awfully 'collapsy' there to me, and only 'hours away.'  Are you more credible than Mr. Darling?  If so, who are you?  Please tell us so we can trust your words more than his.
You've made an unbacked assertion that the collapse of a couple of the largest banks in the world in the UK would not have been a systemically critical moment.
1) What's your evidence for that?
2) No, it doesn't matter to anybody here is "that's just your feeling."
3) Please bring data, and check your beliefs and assumptions at the door.  
Everything I post or write about is backed up, and usually from multiple sources.  The data file behind the Crash Course is very large and it has all been vetted by our team.