Nine years ago, the US economy sank into a recession, the housing market crashed, and credit markets seized, bringing the banking industry to its knees. Businesses were going down. Workers were losing jobs. Americans were losing hope. For many, the psychologically critical low moment was the Lehman Brothers bankruptcy on September 15, 2008. But the memory of events before and after that day is slowly fading.
Business Insider outlined the 27 major moments, from 2007 to 2009, and added some context. From the initial reports of subprime defaults to AIG’s second bailout, here are the scariest moments of the financial crisis.
