Ten years ago, one of the largest investment banks in the world collapsed. Lehman Brothers was one of the first in a chain of banks to fall, triggering the 2008 recession. In the UK, the government had to bail out the Royal Bank of Scotland and Lloyds. The austerity measures put in place after the crash have lasted a decade.
A look-back on how events unfolded a decade ago.
Were the bankers made to pay? No. Do they continue to live the high life? Yes. While they got bailed out, we got sold out
'Absolutely sickening after a decade of people suffering austerity.'
Deutsche Bank is a leading global investment bank with headquarters in Germany and indeed is one of Europe's mightiest financial
Since the collapse of communism, more than twenty years ago, capitalism has been, more or less, the only show in town. As
Five years on, the dust is still settling but it is clear that the consequences have been more than financial. In terms of perceptions, many international publics believe the economic balance of power has swung sharply toward China.
One of the most dangerous side-effects of the Great Recession is amnesia. Our memories have already been eroded by a combination of Twitter and 24-hour rolling news. Add to that the jarring trauma of 2008's existential challenge to capitalism and Voila! The essential details of recent economic history are erased.
A man leaves the Canary Wharf office In an interview with The Guardian to mark the anniversary, Alistair Darling, who was
Saturday 15 September marks four years since the fall of the Lehman brothers, the beginning of the economic crisis. Seeing and experiencing how the economic system has caused pain and sorrow for many people around the world, we cannot forget, however, that it was once intended for something good and to benefit everybody. With the economy as well as our day-to-day lives, we have to remember to combine the qualities of compassion and wisdom with everything we do.