The following article by Sylvan Lane was posted on the Hill website September 1, 2018:
Ten years have passed since the depths of the 2008 financial crisis and the U.S. has emerged as a more prosperous but less equal nation.
The bankruptcy of Lehman Brothers and government takeover of Fannie Mae and Freddie Mac in September 2008 set off a series of collapses that froze the global financial system and triggered a massive recession.
Millions of Americans would lose their homes to foreclosure and their jobs to the contracting economy. The devastation helped fuel the election of former President Obama, who enacted sweeping new rules for banks and a massive stimulus package over the opposition of Republicans.