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Autumn 2008 witnessed a global financial crisis with governments worldwide taking emergency action to prevent a collapse of the banking system. The aftermath of the worst financial crisis since the 1930s saw economic activity slump. In the UK, higher unemployment, falling house prices and a sharp increase in government debt proved to be the alarming legacy of the near implosion of the banking system. This fascinating insight into the downfall of the global financial markets gives us a clear understanding of where it all went wrong. This material forms part of The Open University course DB234 Personal investment in an uncertain world
By the end of 2004 people were offered more money and a larger choice in financial products. Ken Jones explains how cheap credit helped his business go from strength to strength.
More lending, more spending
Twelve months after the fall of Northern Rock the UK Government intervene with fresh capital for an otherwise failed banking system. Never the less the country plunged head on into a recession.
Nationalising the banks