Lehman Brothers collapse: What went wrong ten years ago?
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Ten years ago this week, US investment bank Lehman Brothers collapsed, unleashing a global financial crisis. In this special edition of the show, we focus on that crash, its consequences, and the slow recovery that followed. We take a look back with Adam Tooze, the author of "Crashed: How a Decade of Financial Crises Changed the World".
September 15 marks the ten-year anniversary of what became known as "Lehman Weekend", when US investment bank Lehman Brothers collapsed in the thick of the 2008 subprime mortgage meltdown. It was the biggest bankruptcy in US history, leading up to the world's worst economic crisis since the 1930s Great Depression.
After the peak of the 2008 financial crisis, millions of people lost their jobs and many also lost their homes. More than three million foreclosures took place in the US, and many more around the world.