For all the talk that the current global bank panic
is not a reduction of the 2008 financial crisis.
There is a familiar theme. Yet another financial firm
sold at a fire sale price this time, its
credit suisse once valued at$96 billion. The firm
is being sold to rival ups in an all stock
deal brokered by the government. The price tag around
$3 billion that came together after Switzerland through in all
kinds of government guarantees and liquidity provision. Now rewind
2 15 years ago in March 2008, Bear Sterns
was sold to Jpmorgan Chase for$2. A share
bears market value shrank from a high of$140 billion
to around 240 million in September. Of that year
, the U S Treasury bailed out Fannie Mae and
Freddie Mac, which were and are responsible for financing
a big chunk of us home loans. The two
entities have seen their value crater from a combined$138
billion to now under four billion. And remember Merrill
Lynch Bank of America agreed to by the brokerage for
about$50 billion. That offer was about 70% below
Meryl's peak stock price in 2007. And then we
get to Lehman Brothers, which actually didn't get taken
over or bailed out. Instead, it filed for
bankruptcy in September 2008, wiping out shareholders and help
To trigger the Great Recession. That same week,
the US government took control of AIG in an$85
billion AIG is still around, but today it's worth
$34 billion 240 billion back in its glory days of 00:01:33.700 --> 2000.