2008 Financial Crisis

By philipK12345

  • Lehman Brothers collapse

    The collapse of the Lehman Brothers Bank sparked the financial crisis in 2008
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    Financial Crisis

  • Financial Crisis Spreads to Europe

  • Central Banks cut rates to aid world economy

    Central banks in Canada, USA, England, China, Sweden, Switzerland and the European Central Bank cut rates in a coordinated effort to aid world economy.

  • Black Stone CEO announced 45% of global wealth lost

    In March 2009, Blackstone Group CEO Stephen Schwarzman said that up to 45% of global wealth had been destroyed by the global financial crisis

  • Global production for 2009 down by 2.9%

    On June 22 the World Bank projected that the global production for 2009 would fall by 2.9%, the first decline since the second world war