Financial crisis
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A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. A broader reduction of economic activity affecting the whol
Black Friday, 9 May 1873, Vienna Stock Exchange. The Panic of 1873 and Long Depression followed.
Declining consumer spending
The Roman denarius was debased over time.
Philip II of Spain defaulted four times on Spain's debt.
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
Financial crisis
…in order to avoid a repeat. For example, the former managing director of the International Monetary Fund, Dominique Strauss-Kahn, has blamed the 2008 financial crisis on 'regulatory failure to guard against excessive risk-taking in the financial system, especially in the US'. Likewise, The New York Times singled out…
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
People queueing outside a Northern Rock branch in the United Kingdom to withdraw their savings during the financial crisis
Restaurant in Bristol, United Kingdom, advertising cheap "Credit Crunch Lunch"