Global Financial Crisis
Date: 2008-09-16 AD
The Global Financial Crisis was triggered by the collapse of major financial institutions following widespread failures in mortgage-backed securities and excessive leverage within the banking system. The bankruptcy of Lehman Brothers marked a critical escalation.
Governments and central banks intervened through bailouts, stimulus programs, and regulatory reforms to stabilize financial markets and prevent systemic collapse. The crisis resulted in widespread unemployment, foreclosures, and long-term economic impact.
