Great Depression 2.0: Tracing the Meltdown
The housing bubble burst. Wall Street collapsed. Now the aftershocks are radiating throughout Main Street. TIME explores how this initially insular financial crisis went national.
Firms borrow to load up on CDOs and real estate. Lehman Brothers was leveraged more than 30 to 1. AIG sells credit-default swaps (CDSs), derivatives designed to protect investors from failures.
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