Financial Services: Subprime and Credit Crisis Weighs Heavy
The financial services industry has witnessed its greatest challenges since the Great Depression, due to the bursting of the housing bubble and the resulting credit crunch. Within a period of weeks, venerable institutions have been brought to their knees by dysfunctional credit markets and the punishing stock market. The U.S. and European governments, as well as Japan, have pumped liquidity into the system and taken on direct capital investments in these financial behemoths, in an effort to stabilize credit markets and prevent a global economic meltdown.
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