Impact of the collapse of the Lehman Brothers bank and the 2008 financial crisis on global economic security
Journal Title: Scientific Journal of the Military University of Land Forces - Year 2019, Vol 191, Issue 1
Abstract
The study presents the analysis of the economic phenomena that occurred at the turn of 2007/2008. The financial meltdown and stagnation – a slowdown in the growth of world economies, which led to a chain of bankruptcies and debts, took place in those years. Due to the domino effect, the Lehman Brothers activity had an impact on the global economy. The bank declared bankruptcy on September 15, 2008, which caused panic on the US stock exchange and a greater conviction about the crisis of high-risk mortgage loans. The result was multifaceted activities implementing proper corporate governance and deliberalization of financial law in the United States. The collapse of the colossus achieving record profits was, therefore, a kind of breakthrough that triggered a financial crisis that spread throughout the world. The State Treasury and the US Federal Reserve System joined the rescue of the company; nevertheless, negotiations with potential investors ended in a fiasco.<br/><br/>
Authors and Affiliations
Radoslaw Mieszala
Keywords
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- EP ID EP599679
- DOI 10.5604/01.3001.0013.2405
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