Special Report: The financial meltdown, one year later
Filed under: Economy, Investing, One Year Later
Lehman Brothers' bankruptcy filing on Sept. 15, 2008 set off a nuclear winter that's still chilling the bones of global finance and commerce a year later. Of course, Lehman's monumental collapse was just one in a series major financial and economic blows, and while the world may not have ended, it sure is different today. Informed with the perspective gained from time--and hard experience--Daily Finance writers and editors have put together a must-read multifaceted special report covering the world's new landscape.The topics we've examined range from how total catastrophe was averted to the still unreformed architecture of Wall Street, from the lessons investors have (and haven't) learned to where things might go from here. In between, we've laid out the impacts on white collar workers, consumers and even celebrities. And don't miss the gallery of art and design inspired by the meltdown. No matter what your particular interest, in the series of "One Year Later" articles listed below you're sure to find information and insights you won't get anywhere else. (Click here or the headline above to see the full list.)
One Year Later:
To hell and (almost) back?
Lessons we (should have) learned from the crash
Hank Greenberg reflects on AIG
Art inspired by Wall Street's collapse
White collar reset
Five reasons to still hate Wall Street
Housing hits bottom?
Are we socialist yet?
No progress on a new financial architecture
Fed, Treasury prevented catastrophe, but systemic risk remains
Lessons for business leaders
Goldman Sachs's amazing rebound
What has changed, and what hasn't
Many consumers feel the credit pinch
It's even worse for small investors
Even celebrities face lowered expectations
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The Art of the Collapse
Click through the gallery for visual commentary on this year's financial crisis.
Aaron Draplin - Will Staehle - BLU
Aaron Draplin - Will Staehle - BLU



























Reader Comments (Page 1 of 2)
9-19-2009 @ 9:19PM
Patricia said...
After the One World Governments puppets Geo Sr and Geo Jr. America hoped to again hope there couldbe change with Obama. The blacks wanted someone too to believe in. It is like Holloween all the time. All lies and disguises.
The only only only truth is Glenn Beck and Rush Linbaugh no matter if you like them or not this is not about personalities or color.
If we came from Noah after the flood then black or white we are all one we have all been deceived but now that one CZAR and Acorn has been exposed I feel real hope in these two men and all the information they have given to America for us to ask questions for ourselves
They took prayer out of school and God walked away sad he wanted to be part of our lives and we told him to go FU-- himself. Are we proud of ourselves when we look up in the sky can we take credit for the rain or the sun
So we kicked the creator in the ass and told him we know better
WELL AMERICA and myself are we happy we are all fighting killing and stealing from each other
The only hope I have is seeing Beck peel back his humanity to let us see how human and flesh he is to humanity and maybe we will wake up and say hey what is happening here
I have hope that America can come back and I am 63 until I saw BECK i felt they would put me to sleep just the the 27 animals I have as animal rescue from a government who does not care about anyone except their pockets
Good night everyone and thank you for the opportunity to give my opinion in an free nation
Reply
9-19-2009 @ 3:36PM
Lili said...
Patricia, this is not a free country .. it is God's country. BTW, are your 27 rescued animals free of cages... or kept in cages just not to be put to sleep?
9-18-2009 @ 9:58PM
travelergtoo said...
The Bush Presidency should be known as the disappearing presidency. When the twin towers were hit Bush DISAPPEARED. The Iraq nuclear missiles DISAPPEARED. The CIA tapes of interrigation DISAPPEARED. Bush was nowhere to be found when 'shotgun Dick' disclosed that Valerie Plame was a (covert) CIA agent which was classified information. When our embassy in Serbia burned Bush DISAPPEARED. Bush's Robber Baron presidency has made our money DISAPPEAR. With Voodoo Economics Georgie has made most of our jobs DISAPPEAR. But what would happen if Bush really disappeared? Can you imagine 'Deadeye Dick' with his finger on the nuclear trigger? If that were to happen everyone might just DISAPPEAR!!!!!!! When he wanted to put all the Social Security money in the stock market, Barney Frank said that Wall Street needed to be re-regulated. Bush replied by disappearing. He did manage to APPEAR just long enough to lobby for and sign into law CORPORATE WELFARE for the international banks. Goodbye Goofball Georgie, have fun in Texass.
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9-19-2009 @ 3:21PM
clem591 said...
whats the deference weather it is Ben from the FED, Obama and his treasury boys saying the recession is over, and Ben Bush and his treasury boys saying we are not in one? Do the gents in the Treasury and the FED board all come from the same club? What is the World Bank? If you google / binged the group would you find a IMF connection?
9-18-2009 @ 11:07PM
don clark said...
i am almost losing everything i have workrd all my life for. along with millions of other americans. the people i owe are coming down on me and want to be paid.i have no way to pay them. it is not my fault im in this position ,i have always worked hard and paid my bills.this meltdown is not my fault. whose is it? shouldnt the ones who caused this be the ones who have to pay?i think they should have to pay our bills...
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9-19-2009 @ 1:10AM
Jason said...
Who is brainwashing these people to think that more taxes will make everything ok??? Why do people want to pay more money to people that don't know how to spend it wisely?
The government can't run Medicare, they can't run social security, they can't manage a budget, they can't balance tariffs correctly, they can't run a war, they can't manage the boarders, and the only way they know how to make friends is to buy them with our money. How can you possible think they can run healthcare? They also passed too many laws for the healthcare industry to be less competitive. I can't cross state boarders to get different healthcare plans. I also can't merge with other companies to form a "buying group" to buy a healthcare care plan in bulk to become more attractive to other healthcare companies that will ultimately lower costs because of more volume. I am also not allowed to go to certain hospitals with my current plan. I can't pick and choose. Why you ask?? This is ALL BECAUSE THE GOVERNMENT PASSED LAWS GIVEN TO THEM BY THE LOBBYISTS "THE PEOPLE THAT WORK FOR THE HEALTHCARE SYSTEMS" TO PROTECT THE HEALTHCARE COMPANIES IN THE FIRST PLACE! Now they want to bail us out? They passed laws that got us here in the first place! It is like giving money to a friend that is a cocaine addict. The more you give him the hungrier he gets! Get it?? To add insult to injury, they actually have some people believe that they are just going to take from the rich and give to the poor like Robinhood. If they take more taxes from the givers of payroll in this country, it will all go to hell. Less government and more money in your pocket is the answer. The more you have the more you spend, the more it stimulates the economy. Why do you want the government to spend stimulus money instead of us? The loose regulations that government gave Wall Street got us here to begin with. I still don’t know where a dime of the stimulus money went to or how much was spent, do you? I would know how much I spend. But if I am spending someonelses money I wouldn’t pay as close of attention as if the money were my own.. Get it? Time for the tar & feathers, taxes and large government = death. Enough of the “smoke & mirrors”. Always remember… The government got us into this position, nobody else. Please don’t feed them more to make them even more dangerous. Or just tax the bright Liberals that like this plan.
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9-19-2009 @ 2:37AM
tdrive said...
how can we look back at something that we are still in? I wish all the happy talk were true, but we're lucky to be 1/3 of the way thru this. The worst is yet to come i'm afraid. Ignore the problems, throw alot of money around, buy as many votes as ya can it'll all work out. Won't it? I think America is awakening and hopefully will speak loud enough to wake Washington. Or then again, we might just be labled racist and put back to bed. Disappointing times in the U.S. I have faith in the people but am absolutley dumbfounded by our government. Is it me, or does it seem almost acceptable to be a criminal if you have power, money or both? nary a spine in either party.
Reply
9-19-2009 @ 4:29AM
Joe Duggins said...
According to some, since the rich has created this problem, it appears as if they are the ones who should be paying for the cost of the bailout. However, I would be surprise if they will. They have the most highly paid lawyers and accountants who are able to get them out of paying taxes. However, the poor has no advocates with such sophisticated credentials to plead their case, and as a result, they pay the price for everyone while being crushed into the dirt as the rich get richer.
The politicians need to do more for the poor. When crisis of this nature takes place the poor are blamed as a result. Naturally, the politicians are standing on both sides of the fence and juggling things around in their hands. The poor, weak, and least of all, are criticized and are left out in the cold. On the other hand, attention is paid to big businesses and powerful corporations, and what is left, if anything, is trickled down to the poor as they wait in food lines and in shelters for handouts.
Some questions many have asked regarding this devastating scenario are: 1) why is it that the richest and most powerful country in the world, allows its citizens to go hungry, homeless, without healthcare, and jobless, while the rich are living on more than they are able to consume, and are wasting what they don't need? Also, 2) why is it that America can run around the world as the world's policeman and spend vital resources as it deems fit on other nations, while its own people at home are starving, crying for shelter, clothing, healthcare, and a job to provide them with an income while America turns a deaf ear?
These are major concerns Americans are faced with. They require solutions from our government and also the major corporations where consumers spend their hard earned cash. There should be solutions to these issues, which are critical, and should be derived more sooner than later.
----------------------------
Money is like muck, not good except it be spread.
http://www.topinvestingtips.com
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9-19-2009 @ 7:06AM
george said...
they only way we are going to get our economy going is to stop importing from other countries and any company that wants to set up shop out side the us should be hit with a heavy tarrif
Reply
9-19-2009 @ 10:47AM
B Polus said...
The world has not yet experienced the coming CDS crisis that will mirror the CDO crisis for about $20 Trillion(Double the CDO crisis) in non transaprent swaps. Swaps need not be regulated like the CDO's and the domono effect is deflation/recession in a big way!
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9-19-2009 @ 12:50PM
John Hoover said...
The economy collapsed because it was and unless some very basic changes are made will continue to be unsustainable. A business model in which the numbers on the next quarter's balance sheet and income statement trump the long term viability of the company cannot stand. One has to wonder what school of economics teaches that down sizing, laying off and outsourcing will bring back prosperity. Has the business community become so detached from reality as to believe that employees are just and expense. Wall Street is not the economy. The economy is consumers with jobs that pay a living wage. Outsourcing production kills the goose that lays the golden egg.
Reply
9-19-2009 @ 1:04PM
DAVO said...
THE GOVERNMENT HAS EVERYTHING ON LIFE SUPPORT . NOTHING HAS BEEN RESOLVED. WAIT TILL THEY HAVE TO PULL THE PLUG . JUST MORE OF REARRANING THE DECK CHAIRS ON THE TITANIC
Reply
9-19-2009 @ 5:22PM
Mark Borg said...
congressmen taking bribes do Americans more
damage than the Taliban . Traitors " on the take "
are causing most of our problems .
Reply
9-20-2009 @ 8:49AM
Jake said...
Wall Street analysts gave AIG a clean bill of health 21 days prior to the comapny collapse and NOT a SINGLE Wall Street suit is in PRISON for this .. I lost $18,000 in AIG and I want to know HOW X-CEO GREENBER was able to setup and off shore account with $4.2 billion in deposits while stock holders and American taxpayers get a BILL for AIG collapse ? It is insane .. who controls the $4.2 billion ?
Reply
9-19-2009 @ 11:34PM
Brenda said...
9-18-2009 @ 9:58PM
travelergtoo said...
The Bush Presidency should be known as the disappearing presidency. When the twin towers were hit Bush DISAPPEARED. The Iraq nuclear missiles DISAPPEARED. The CIA tapes of interrigation DISAPPEARED. Bush was nowhere to be found when 'shotgun Dick' disclosed that Valerie Plame was a (covert) CIA agent which was classified information. When our embassy in Serbia burned Bush DISAPPEARED. Bush's Robber Baron presidency has made our money DISAPPEAR. With Voodoo Economics Georgie has made most of our jobs DISAPPEAR. But what would happen if Bush really disappeared? Can you imagine 'Deadeye Dick' with his finger on the nuclear trigger? If that were to happen everyone might just DISAPPEAR!!!!!!! When he wanted to put all the Social Security money in the stock market, Barney Frank said that Wall Street needed to be re-regulated. Bush replied by disappearing. He did manage to APPEAR just long enough to lobby for and sign into law CORPORATE WELFARE for the international banks. Goodbye Goofball Georgie, have fun in Texass....................................And now we have Obama! From the frying pan into the fire.
Reply
9-20-2009 @ 1:42AM
leroy said...
The Clinton presidency left us with a surplus when he left office. The Bush presidency left us with a large red ink
supply. The Obama presidency is the one who is tring to clean up the mess. Only time will tell, how well he does the job.
Reply
9-20-2009 @ 8:54AM
Rock Fossil said...
Its all in, "The Creature from Jekyll Island, A Second Look at the Federal Reserve", first penned in 1992 by G.E. Griffin. It has accurately predicted everything that has occurred and gives a documented fact based accounting of who is responsible and the very reason it can't be stopped. Please, at least have a read before you speculate any further.....it will save you alot of time from wondering why we're all in this mess!
Reply
9-20-2009 @ 9:01AM
se said...
Humble yourself and pray and I will heal yout land.What we need is a national week of prayer,fasting and repentance,but;thats too much to ask from americans,isn't it.Better to let the nation fall apart then to consider asking God for help----------because of seperation of church and state.Well ya know what? Maybe you are finally getting your desire ;Perhaps God is seperating himself and all his blessing from america.
Reply
9-20-2009 @ 6:22PM
Repenter said...
Read WarningtoAmerica.com
Reply
9-20-2009 @ 11:47PM
AJP said...
One has to wonder what school of economics teaches that down sizing, laying off and outsourcing will bring back prosperity.
Mittens romney might know the answer to that one, since that's how he made his money! All I know is my wife's BFF and her family moved to the Bahamas back in 2001 and then moved back to Switzerland in 2007. Her husband is a Swiss banker and the company folded in 2007 and he created another back with three coworkers. I'm sure they made a mint in those six years.
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