Financial Crisis: One Year And Counting
Will the governments of the world dare tell their citizens that to avoid another global crisis, they will have to take bitter medicine?
One year after the global economy crashed, a terrifying question remains: What are the chances the world will go through this all again? The answer all depends on whether we learn the proper lessons from the financial crisis — and apply them.
The total cost of rescuing the financial system could run taxpayers about $600 billion.
September 15, 2009 When AIG stunned the global economy by nearly collapsing last year, the insurance giant was being regulated by dozens of agencies in the U.S. Lawmakers eyeing an overhaul of the financial system say that's far too many, but politics makes reducing the number almost impossible.
September 14, 2009 As the global financial system teetered on the edge of collapse a year ago this week, the Federal Reserve stepped in with unprecedented actions. Yet some lawmakers say the Fed should have done more to prevent the crisis.
September 14, 2009 The president traveled Monday to the heart of Wall Street to outline proposed changes designed to prevent a crisis like the one that sent the global economy into a tailspin a year ago.
September 12, 2009 The financial crisis left a trail of victims in its wake, but there have also been some winners. Washington Mutual Bank disappeared, while other banks that survived now face less competition. Automakers GM and Chrysler survived, but many of their dealers didn't fare so well.
September 9, 2009 By any measure, the human toll of this recession has been great. More people are jobless for longer periods than at any time since the late 1940s. Since last September, nearly 6 million jobs have disappeared. Mark Sharps' was one of them.
September 9, 2009 One year after the financial crisis hit, the foreclosure mess hasn't improved. Economists repeatedly have said that preventing foreclosures is good for the housing market and the economy. But despite a major effort by the Obama administration, many loan modifications aren't going through.
September 5, 2009 The financial crisis was long in the making. When it hit one year ago, the housing and stock markets took a nosedive along with confidence in the financial system. An NPR series examines the measures taken, the human toll and whether enough has been done to avert the next crisis.
September 8, 2009 A year ago, the financial crisis offered voters a glimpse of the two presidential candidates in action. It was a moment that solidified Barack Obama's narrow lead over John McCain. Once Obama was elected, the crisis defined his early presidency.
September 6, 2009 A series of stunning events last September paralyzed America's financial system and profoundly rattled the global economy. Stocks tumbled, and the credit markets short-circuited. Pale, frightened regulators, bankers and politicians tried haltingly to explain how they might avert an economic catastrophe.