During the period 2007–2009, the UK government intervened financially to support the UK banking sector, and four UK banks in particular.
Ceremonial plaque from the opening of Lehman Brothers’ European HQ in Canary Wharf in 2004. Later, in 2010, this would be auctioned by the Lehman administrators for £28,750.
People queuing at a branch of the Northern Rock bank in Brighton on 14 September 2007
Gordon Brown official
2008 financial crisis
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A major worldwide financial crisis centered in the United States took place in 2008. The causes included excessive speculation on property values by both homeowners and financial institutions, leading
2008 United Kingdom bank rescue package
…14 billion as at 31 March 2018. Subsequently, broadly similar measures were introduced by the United States and the European Union in response to the 2008 financial crisis. So why not let the banks fail…
The bankruptcy of Lehman Brothers (headquarters pictured), the fourth-largest U.S. investment bank (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), on September 15, 2008, is often considered the climax of the 2008 financial crisis.
Share in GDP of U.S. financial sector since 1860
Restaurant in Bristol, United Kingdom, advertising cheap "Credit Crunch Lunch"