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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: taken over or merged with another financial ...
Please help update this article to reflect recent events or newly available information. ( June 2010 ) Write-downs on the value of loans, MBS and CDOs due to the subprime mortgage crisis .
[3] [4] The foreclosure crisis caused significant investor fear in the U.S. [5] A 2014 study published in the American Journal of Public Health linked the foreclosure crisis to an increase in suicide rates. [6] [7] One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac. [8] [9]
It was characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages. Several major financial institutions collapsed in September 2008, with significant disruption in the flow of credit to businesses and consumers and the onset of a severe global recession.
Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...
The gross debt of the financial sector rose from 22 per cent of GDP in 1981 to 117 per cent in the third quarter of 2008, while the debt of non-financial corporations rose only from 53 per cent to 76 per cent of GDP. Thus, the desire of financial institutions to shrink balance sheets may be an even bigger cause of recession in the US." [42]
October: A foreclosures crisis occurs due to many foreclosures being carried out even without the necessary paper-work being in place, instead relying on "robo-signing" of the legal documents. Many demand that all foreclosures be halted nationwide until the systemic issues of extrajudicial practices have come under control.
Margin Call, a 2011 film about the collapse of an investment bank during the 2008 financial crisis. Free Money Day; Too Big to Fail, a 2010 HBO docudrama about the 2008 financial crisis. The Big Short, a 2015 film about bank fraud. C, a 2011 anime inspired by the bankruptcy of Lehman Brothers.