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This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:
Subprime mortgage lending jumped dramatically during the 2004–2006 period preceding the crisis (source: Financial Crisis Inquiry Commission Report, p. 70 Figure 5.2). Number of U.S. household properties subject to foreclosure actions by quarter. In the early months of 2008, many observers believed that a U.S. recession had begun.
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
On average, between 1980 and 1994, a US bank failed every three days. The pace of bankruptcies peaked immediately after the 2008 financial crisis. [1] The 2007–2008 financial crisis led to many bank failures in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. [2]
Columbia Journalism Review this month took the first steps toward transforming the ghost stories and urban legends of America's current recession into the formalized analysis of history. In "The ...
The Bear Stearns Companies, Inc. was an American investment bank, securities trading, and brokerage firm that failed in 2008 during the 2007–2008 financial crisis and the Great Recession. After its closure it was subsequently sold to JPMorgan Chase.
Causes of the crisis included predatory lending in the form of subprime mortgages to low-income homebuyers and a resulting housing bubble, excessive risk-taking by global financial institutions, [1] and lack of regulatory oversight, which culminated in a "perfect storm" that triggered the Great Recession, which lasted from late 2007 to mid-2009 ...
Government policies and the subprime mortgage crisis covers the United States government policies and its impact on the subprime mortgage crisis of 2007–2009. The U.S. subprime mortgage crisis was a set of events and conditions that led to the 2007–2008 financial crisis and subsequent recession.