4 years have passed since the bankruptcy of Lehman Brothers. After these four years, the financial world has changed. Even if Lehman Brothers was “too big to fail” this happened and things got out of control. Resounding failure was just the tip of the iceberg in crisis is announced, all exchanges and market issues came to light when the panic occurred. Meanwhile prices have returned to more realistic basis and frenzy they trade stocks overvalued disappeared.
4 years since the outbreak of the crisis, unemployment rose from 6.1% to 8% in the U.S. and creating jobs is unreachable goal of the Obama Administration. It is true that Wall Street is recovering slowly from historic lows reached during the peak of the crisis but players have become more wild stock. Oil prices also varied as nobody could imagine and gold had reached unbelievable rates.
What follows from now? Obviously that needs must be reassessed on fair basis. Given the four years that have passed, each company or individual must plan their budget more carefully the risks with a backup of at least 6-12 months.
Online there are a lot of comments about 4 years ago event.
“Blame for the collapse is still being debated. People bought homes they couldn’t afford, peddled by lenders who knew — or should have known — that the loans were destined to fail. Wall Street sucked up these loans and sold them off in bundles to investors, sometimes while making bets against those same products.” Huffington Post