Bankers Trust:

$ 3.4 trillion bank recap since Great Recession but no end in sight

$ 3.4 trillion bank recap since Great Recession but no end in sight

Many believe that the 2008 financial crisis that forced the iconic US investment bank Lehman Brothers Holdings Inc. to file for bankruptcy was not a global financial crisis; it was just a Transatlantic financial crisis, perpetrated by the US subprime mortgage calamity. Giving it a “global” tag was part of the propaganda of the developed markets to dilute their responsibility although the rest of the world had nothing to do with it.