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Financial crisis explained: How greedy US banks crippled world economy

Here is what led the global financial crisis ten years ago

Representative Image. Illustration by ajay mahanty
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Illustration by ajay mahanty

Shivansh Jauhri
It has been 10 years since the Lehman Brothers shut shop. People who faced the global recession at that time say it was not their fault and still had to leave their homes. The housing market in the USA crashed and the whole world's economy went for a toss. Three million people in the US lost their jobs and five million lost their homes. But, how did it all happen? What was the root cause of it? Here is an explainer on the global financial crisis.

Good people with good jobs wanted houses to live. They followed the simple, tried and

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First Published: Sep 05 2018 | 1:37 PM IST

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