514.1. At the time of the Bear Stern's demise in March 2008, Paul Friedman was a Senior Managing Director at the firm with responsibility for its fixed income repo desk. About the repo market's role in the collapse of Bear Sterns, he said in testimony before the Financial Crisis Inquiry Commission, "During the week of March 10, 2008, Bear Stearns suffered from a run on the bank that resulted, in my view, from an unwarranted loss of confidence in the firm by certain of its customers, lenders, and counterparties. In part, this loss of confidence was prompted by market rumors, which I believe were unsubstantiated and untrue, about Bear Stearns' liquidity position. Nevertheless, the loss of confidence had three related consequences."

Each of the following was one of his cited three consequences EXCEPT which was not?