Transcription of Crisis and Response: An FDIC History, 2008–2013
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Crisis and Response: An FDIC History, 2008–2013
Xi Overview Introduction In 2008 , the United States was confronted with its most severe financial Crisis since the Great Depression. The financial Crisis , in turn, resulted in a prolonged economic contraction the Great Recession with effects that spread throughout the global economy. Many books and papers have been written on the causes and implications of the financial Crisis of 2008 and 2009.
two years earlier, in March 2008, it had reached what was then an all-time high of $52.8 . billion. 11. During the same period (between March 2008 and year-end 2009), the number of problem banks rose from 90 to just over 700. Problem banks would peak in early 2011 at almost 900, constituting nearly 12 percent of all FDIC-insured . institutions. 12
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