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This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:
Later, on 24 March 2008 J.P. Morgan Chase increased the offer to $1.2 billion or $10 a share [22] and five days later the acquisition was approved. [23] In order for the deal to go through J.P. Morgan Chase required [24] the Fed to issue a nonrecourse loan of $29 billion to Bear Stearns.
The biggest bank failure in history occurred on September 25 when JP Morgan Chase agreed to purchase the banking assets of Washington Mutual. [59] The year 2008, as of September 17, had seen 81 public corporations file for bankruptcy in the United States, already higher than the 78 for all of 2007.
The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
This is a list of banks in the United States affected by the 2008 financial crisis. The list includes banks (including commercial banks, investment banks, and savings and loan associations) that have: been taken over or merged with another financial institution, been declared insolvent or liquidated, or; filed for bankruptcy.
The US Senate Permanent Committee on Investigations releases the Levin-Coburn report, "Wall Street and the Financial Crisis: Anatomy of a Financial Collapse". It presents new details about the activities of Goldman Sachs, Deutsche Bank, Moody's, and other companies preceding the financial crisis.
Financial market stresses became apparent during 2007 that resulted in sizable losses across the financial system, the bankruptcy of over 100 mortgage lenders and the emergency sale of investment bank Bear Stearns in March 2008 to depository bank JP Morgan Chase. Some writers began referring to the events in the financial markets during this ...
This addition reflects the assessment of U.S. intelligence agencies that the global financial crisis presents a serious threat to international stability. [150] Business Week stated in March 2009 that global political instability is rising fast because of the global financial crisis and is creating new challenges that need managing. [151]