We're down 50, but

This is what the start of a 57% drawdown looks like on live TV 📉 Banks had spent years issuing risky mortgages, packaging them into complex securities, and leveraging heavily against them. When home prices fell and defaults rose, those assets turned toxic and credit froze. Lehman Brothers filed for bankruptcy on September 15, 2008 and the panic went everywhere at once. Stocks fell more than 50% from the peak, TARP bailouts followed, and the Great Recession brought mass unemployment and foreclosures. Markets bottomed in March 2009 and climbed back on stimulus and Fed quantitative easing. The whole thing started with an open that just looked a little worse than expected. #StockMarket #2008Crash #Lehman #MarketHistory #Invested