Horsecore 2008 -

Then the horse whinnies. And the moment passes.

The peak was —a supposed “rally” in October, just before the Lehman collapse. Two hundred people on horseback (and a few on stolen golf carts) rode through the outskirts of Scranton, carrying torches made of rolled-up subprime mortgage contracts. A local news helicopter caught the image: a sea of lanterns bobbing over a dark field, horses’ eyes glowing red in the infrared. The anchor called it a “cult.” The participants called it a “liquidity event.” horsecore 2008

Today, “horsecore 2008” is a ghost in the machine. A Reddit post here, a blurry YouTube video there (most taken down for “dangerous animal handling”). But every so often, on a back road in the Poconos, someone will see a faintly glowing lantern and hear the distant, slowed-down strum of a banjo through a Big Muff pedal. Then the horse whinnies

You wouldn’t read about it in the Wall Street Journal , but a quiet subculture was galloping through the dying days of the Bush era. They called it . Two hundred people on horseback (and a few