The Fall-Out - The Latest Bankruptcy to Shock the Financial Markets - Made in Germany, 16.09.2008
Michael BärSeptember 17, 2008
The aftershocks caused by the collapse of US investment bank Lehman Brothers are reverberating this week on the international financial markets. Alan Greenspan – former Federal Reserve Bank Chairman – described it as the sort of a crisis that happens only once a century. Now that Wallstreet’s fourth largest investment bank has gone bust, the international financial markets experienced a Black Monday, while US stocks posted their biggest losses since the terror attacks of 9/11. Lehman's bankruptcy filing marked the latest twist in the 14-month-old credit crises that stem from subprime mortgage debt. Has the crisis hit Europe yet? Holger Trzeczak takes a look at the events of the past year.