What crisis happened in 2008?
The financial crisis of 2007
Great Recession The financial crisis of 2007–2008, or global financial crisis (GFC), was a severe worldwide economic crisis. It was the most serious financial crisis since the Great Depression.
What caused 2008 crash?
The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. When the values of the derivatives crumbled, banks stopped lending to each other. That created the financial crisis that led to the Great Recession.
What was popular in the year 2008?
8 pop culture moments from 2008 you won’t believe happened 10…
- Britney Spears makes a comeback.
- The Twilight movie saga begins.
- Angelina Jolie and Brad Pitt welcome twins.
- Sex and the City: The Movie hits theaters.
- Miley Cyrus’ Vanity Fair shoot causes controversy.
What was happening in Australia 2008?
11 July – The Apple iPhone is officially released in Australia. 13 July – Pope Benedict XVI arrives for his first papal visit to Australia, ahead of World Youth Day 2008. 15 to 20 July – World Youth Day 2008, the Catholic Church’s youth festival is held in Sydney.
What was happening in July 2008?
Several U.S. Troops Are Killed in Afghanistan (July 13): Nine U.S. soldiers die and at least 15 NATO troops are wounded when Taliban militants boldly attack an American base in Kunar Province, which borders Pakistan. It’s the most deadly assault against U.S. troops in three years.
How much did Americans lose in 2008?
America Lost $10.2 Trillion In 2008.
What companies went under in 2008?
List of banks acquired or bankrupted during the Great Recession
| Announcement date | Acquired company | Value (USD, EUR and GBP) |
|---|---|---|
| September 17, 2008 | Lehman Brothers, New York City | $1.3×109 |
| September 18, 2008 | HBOS | $2.185×1010 |
| September 26, 2008 | Washington Mutual, Seattle, Washington | $1.9×109 |
| September 26, 2008 | Lehman Brothers | $600,000,000 |