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Financial crises: some major bank failures in the history of the United States

29/03/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Over the past month, markets have experienced massive turmoil. These instabilities began to be felt years ago in this sector. Here are some of the most recent largest bank failures in U.S. history.

Long Term Capital Management (LTCM), one of the biggest bank failures. The heavily indebted American hedge fund lost more than $4 billion in the space of a few months in 1998 as a result of the Asian crisis and a subsequent financial crisis in Russia. The 2008 global financial crisis; the biggest financial crisis since the Great Depression. It has been rooted in risky loans to fragile borrowers, who began to lose value after central banks raised interest rates in the run-up to the crisis. This crisis led to the collapse of some historic Wall Street giants, including Bear Stearns and Lehman Brothers, both of which held significant positions in mortgage securities. Similarly, the debacle also engulfed the insurance giant American International Group, which needed a $180 billion bailout.

So there is the European debt crisis. It is stipulated by the financial crisis financial crisis of 2008, the surge in debt in some of the major European economies caused a loss of confidence in businesses in the region. Greece was among the hardest hit, with its main shipping and tourism industries being economically sensitive and the first to be bailed out by other eurozone economies.

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