This autumn will mark the tenth anniversary of the most spectacular bankruptcy of all times. On 15 September 2008, banking heavyweight Lehman Brothers knocked sideways by the bursting of the sub-prime mortgage bubble a year earlier, declared itself insolvent with 613 billion US dollars worth of debt. This whipped up a storm that raged through Wall Street, spreading distrust and toppling other large institutions. Stock markets crashed, the credit market dried up and the real economy suffocated. The gangrene then spread to the eurozone causing several member states to totter under the weight of public debt and eventually to the rest of the world. Ben Bernanke, the Fed Chairman at the time, has even said, September and October of 2008 was…
Read the full article at: https://www.forbesmiddleeast.com/en/taking-stock-of-the-financial-crisis-ten-years-later/
