Saul Eslake Economic Analysis – December 2008

The global financial crisis which began with the sub-prime mortgage market meltdown in July 2007 took a much more ominous turn following the US Treasury’s decision to allow Lehman Brothers to fail in mid-September, the subsequent decisions to take AIG, Fannie Mae and Freddie Mac into ‘conservatorship’ and the failure of Washington Mutual. These events […]