September 15 marked the one-year anniversary of the Lehman Brothers bankruptcy, the largest bankruptcy filing in U.S. history. The Lehman Brothers collapse, combined with the government takeover of Fannie Mae and Freddie Mac, helped trigger the worst financial crisis in the United States since the Great Depression. The impact of the crisis was felt globally, with countries around the world only recently beginning the recovery process.
In this week’s edition of the Scouting Report, Douglas Elliott – a former investment banker and current fellow at Brookings – answered your questions about the financial crisis and where we stand one year later. Fred Barbash, senior editor at Politico, moderated the discussion.