The global financial crisis of 2008 led to the worst recession since the Great Depression of 1929. Many large banks such as Lehman Brothers, Bear Stearns, Merrill Lynch, along with major global financial services such as Fannie Mae and Freddie Mac, collapsed and with them the US economy. In this paper I will present reasons for the failure of each financial institutions individually which have caused the financial meltdown of 2008. I will also discuss the impact of the financial collapse on shareholders and depositors, and finally some of the measurements that the government has implemented i...

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