The Fall-Out - The Latest Bankruptcy to Shock the Financial Markets - Made in Germany, 16.09.2008
03:40
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.