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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 1929 Wall Street crash and Great Depression.
On November 9, 2008, the Chinese economic stimulus program, a RMB¥ 4 trillion ($586 billion) stimulus package, was announced by the central government of the People's Republic of China in its biggest move to stop the global financial crisis from hitting the world's second largest economy. A statement on the government's website said the State ...
The Report found that the four causative aspects of the crisis were all interconnected in facilitating the risky practices that ultimately led to the collapse of the global financial system. Lenders sold and securitized high risk and complex home loans while practicing subpar underwriting, preying on unqualified buyers to maximize profits.
The collapse of Lehman Brothers was a symbol of the global financial crisis. On Sunday, September 14, it was announced that Lehman Brothers would file for bankruptcy after the Federal Reserve Bank declined to participate in creating a financial support facility for Lehman Brothers. The significance of the Lehman Brothers bankruptcy is disputed ...
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: taken over or merged with another financial ...
A currency crisis, also called a devaluation crisis, [7] is normally considered as part of a financial crisis. Kaminsky et al. (1998), for instance, define currency crises as occurring when a weighted average of monthly percentage depreciations in the exchange rate and monthly percentage declines in exchange reserves exceeds its mean by more ...
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Margin Call, a 2011 film about the collapse of an investment bank during the 2008 financial crisis. Free Money Day; Too Big to Fail, a 2010 HBO docudrama about the 2008 financial crisis. The Big Short, a 2015 film about bank fraud. C, a 2011 anime inspired by the bankruptcy of Lehman Brothers.