Global Financial Crisis
全球金融危機
Source: The 2008 Global Financial Storm: The Full Story and Predictions for the Future
From: Teacher Chen’s Blog
Date: 2008-10-03 · Author: Chen Chen-ping
Wall Street’s original Big Five were Merrill Lynch, Morgan Stanley, Goldman Sachs, Lehman Brothers, and Bear Stearns. But after the subprime mortgage crisis of 2007: in March 2008 Bear Stearns — the US’s fifth-largest bank — was acquired by JPMorgan Chase; in July 2008 IndyMac Bank failed; in September 2008 came the “two housing agencies” crisis; and on 15 September 2008 Lehman Brothers declared bankruptcy. Of the original Big Five, only Morgan Stanley and Goldman Sachs remained; the rest had fallen. An unceasing succession of financial storms devastated the US economy and spread to countries around the world.
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External Links
- Financial Crisis (MBA Think Tank Encyclopedia)
- 2008 International Review: The Battle for Oil Under the Global Financial Storm (Environmental Information Centre)
- Financial Tsunami — Lessons from the Lehman Brothers Bankruptcy (BusinessWeek)
- The Global Financial Storm’s Impact on the Global and Taiwanese Economy (National Policy Foundation)