The failures of large financial institutions in the US rapidly evolved into a global crisis in 2008,resulting in a number of Europeonbank failures and declines in various stock indexes,and significant reductions in the market- Value of equities qnd comodities worldwide.Three of the big Five of Wall Street disappeared. Lehman Brothers went broke. MerryLynch was absorbed by bank of America. Bear Stearns was taken over by J.P.Morgan.Freddie MAc and Fennie Mae, The two largest home mortgage institutions of the US were rescuedfrom bankruptcy by their effective takeover by the government.80% of the Insurance giant AIG was also similarly taken over.
Major banks and other financial institutions around the world had reported losses of $ 435 billion as of july.The crisis lead to a liquidity problem and the de-leveraging of financial Institutions espesially in the US and Europe,which further accelerated the liquidity crisis. World political leaders and national ministers of finance and central bank directors coordinated their efforts to reduce fears but the crisiswas continuing.Leaders from the EU's 27 countries in october vowed to overhaul the global financial system and protect the continent's Industry.
IndiaOn Oct.24, fIIs shed a record quantity of indian stocks sending the sensex pluging 11 p.c. The index collapsed to 2005 levels,breaching the 9000-mark.Reserve Bank of India Governor D. Subbaroa said on oct.25 that India's growth story will continue despight a slight decleration,but there would be no recessions as in some advanced countries.
Major banks and other financial institutions around the world had reported losses of $ 435 billion as of july.The crisis lead to a liquidity problem and the de-leveraging of financial Institutions espesially in the US and Europe,which further accelerated the liquidity crisis. World political leaders and national ministers of finance and central bank directors coordinated their efforts to reduce fears but the crisiswas continuing.Leaders from the EU's 27 countries in october vowed to overhaul the global financial system and protect the continent's Industry.
IndiaOn Oct.24, fIIs shed a record quantity of indian stocks sending the sensex pluging 11 p.c. The index collapsed to 2005 levels,breaching the 9000-mark.Reserve Bank of India Governor D. Subbaroa said on oct.25 that India's growth story will continue despight a slight decleration,but there would be no recessions as in some advanced countries.
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