The weekend of Lehman Brothers, one of the most venerable and biggest investment banks,

was forced to declare itself bankrupt.

Another narrow- linch was forced to sell itself today.

Crisis talks are under all financial markets are way down today following dramatic developments.

In September 2008, the bankruptcy of the US investment bank, Lehman Brothers,

and the collapse of the world's largest insurance company, AIG,

triggered a global financial crisis.

The biggest grip markets overnight with Asian stocks slaps fell off a cliff.

The largest single-point drop in his share prices continued to topple in the aftermath of the Lehman collapse.

The result was a global recession, which caused the world tens of trillions of dollars,

rendered 30 million people unemployed and doubled the national debt of the United States.

If you look at the cost of it, the structure of equity wealth, of housing wealth,

the destruction of income, of jobs, 15 million people globally could end up below the poverty line again.

This is just a hugely, usually expensive crisis.

This crisis was not an accident.

It was caused by an out-of-control industry.

Since the 1980s, the rise of the US financial sector has led to a series of increasingly severe

financial crises. Each crisis has caused more damage, while the industry has made more and more money.

Hello everybody and welcome back to Revolutionary Left Radio.

I'm your host Ann Comrade Bredo-Shea and today we have on Matt Sainer to talk about the great

recession of 2008. Before getting to the episode, I do want to plug a go fund me,

a comrade on our Patreon message me and his nephew Crete Briggs was 12 years old playing on a beach

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