一夜暴“负”引爆全球，08年的美国次贷危机如何摧毁全球经济？

Core Viewpoint - The collapse of Lehman Brothers on September 15, 2008, marked a significant turning point in global finance, revealing the fragility of the financial system and the consequences of unchecked greed and speculation in the housing market [1][16]. Group 1: Background and Causes - The financial crisis had roots in decades of economic policies that favored deregulation and speculative practices, particularly during the early 21st century when American households became heavily involved in real estate speculation [3][5]. - The Federal Reserve's aggressive interest rate cuts led to a surge in subprime lending, with banks offering loans to individuals with poor credit histories, creating a bubble in the housing market [5][12]. - Financial instruments like mortgage-backed securities were misrated as AAA, allowing banks to offload risky loans onto global investors, exacerbating the financial instability [5][12]. Group 2: The Collapse of Lehman Brothers - Lehman Brothers attempted to mitigate its exposure by seeking external capital but was ultimately denied assistance by the U.S. government, leading to its bankruptcy [14][16]. - The bankruptcy triggered a chain reaction across financial markets, resulting in a loss of approximately $30 trillion in global stock market value within a year [18]. Group 3: Aftermath and Impact - In response to the crisis, the Federal Reserve implemented aggressive monetary policies, including printing $4.5 trillion, which flooded emerging markets with capital but also led to significant currency devaluations in various countries [18][20]. - The selective rescue of financial institutions, particularly Goldman Sachs, highlighted the disparity in how financial aid was distributed, benefiting a few while leaving many ordinary citizens in distress [22][24]. - The long-term consequences of the crisis continue to affect millions, with many still suffering from the fallout of the housing market collapse, while financial institutions have returned to profitability and high executive bonuses [24][26].