Global banking reshaped
This multimedia snapshot brings together coverage of the mounting crisis and its impact on the markets through links to in depth packages, interactive maps, audio, video and blogs.The rising defaults on subprime mortgages in the US triggered a global crisis for the money markets. Many of the world’s leading investment banks have collapsed as a result and the US government has proposed a massive bail-out.
The crisis has become one of the most radical reshapings of the global banking sector, as governments and the private sector battle to shore up the financial system following the disappearance of Lehman and Merrill as independent entities and the $85bn government rescue of AIG.
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