Huffpost Austerity Series -The Lehman Brothers Crash And The Chaos That Followed – Everything You Need To Know
The Lehman Brothers Crash And The Chaos That Followed – Everything You Need To Know
Isabel Togoh - 15 September 2018
Today marks exactly a decade since the collapse of Wall Street investment bank Lehman Brothers.
The institution’s downfall triggered chaos among the world’s financial markets, resulting in the Great Recession and the biggest economic downturn since the Great Depression in the 1930s.
Measures taken to recover from the crisis, including a series of austerity policies introduced by the UK government – are still impacting lives of ordinary people today.
Ten years on, concerns remain about behaviour among the banks, stoking fears that we could be on the brink of another financial crisis.
Here, we take a look at how events unfolded leading to that fateful day on September 15, 2008, and the chaos it left in its wake.... See more