Lehman Brothers-Investment bank that went under, led to the meltdown that was the 2008 financial crisis Bank of America-American Bank involved in many high profile banking stories Financial Crisis- started towards the end of 2008 with the crash of Lehman Brothers, brought the financial system to its knees. This was due to problems in the credit markets, after many homeowners with subprime mortgages started defaulting on their mortgages and getting foreclosed upon, losing their homes Housing bubble- housing prices going above their value, ends with a sudden huge drop in housing prices
Euro crisis- European governments have been taking on more debt than they are able to repay, has led to massive financial instability in Europe and devaluation of the Euro Goldman Sachs- American Investment bank, still around after the crisis, are now quite profitable, have no souls Merrill Lynch- American Investment bank which shut down during the crisis JPMorgan- American bank, was the only bank to remain profitable during the crisis
Bank of America-American Bank involved in many high profile banking stories
Financial Crisis- started towards the end of 2008 with the crash of Lehman Brothers, brought the financial system to its knees. This was due to problems in the credit markets, after many homeowners with subprime mortgages started defaulting on their mortgages and getting foreclosed upon, losing their homes
Housing bubble- housing prices going above their value, ends with a sudden huge drop in housing prices
Goldman Sachs- American Investment bank, still around after the crisis, are now quite profitable, have no souls
Merrill Lynch- American Investment bank which shut down during the crisis
JPMorgan- American bank, was the only bank to remain profitable during the crisis