Neoliberalism Unleashed: Voices of Resistance 2008
In September 2008, Lehman Brothers, a major investment bank, filed for bankruptcy protection, which triggered a management crisis at other major investment banks, commercial banks, and insurance companies. All these companies were involved in subprime loans, a type of home loan for individuals on low incomes with low repayment capacity. This caused an economic depression on a global scale, the crash of the housing market and a decline in the repayment of subprime loans beginning.
The Financial Crisis in the United States
Neoliberalism Unleashed:
Voices of Resistance two thousand eight
In September two thousand eight, Lehman Brothers, a major investment bank, filed for bankruptcy protection, which triggered a management crisis at other major investment banks, commercial banks, and insurance companies. All these companies were involved in subprime loans, a type of home loan for individuals on low incomes with low repayment capacity. This caused an economic depression on a global scale, the crash of the housing market and a decline in the repayment of subprime loans beginning.
