Crunch Time

The Great Panic

On August 9, 2007, fear paralyzed the world's credit markets. Everything was suspect and no one was willing to take any chance.

We're not over it yet.

Wall Street


The Big Squeeze
Trader
A Year of Pain
What Wall Street has lost in the past year, and what more it may still have yet to lose.
Crunched Interactive
Interactive Features  Shrinking Banks
The Top 10 banks lost $353 billion in value over the last year. See how each shrank.
Ben Bernanke
Captain Crunch
Has Ben Bernanke and the Fed done enough to navigate the storm? Or too much?
Credit Storm
Interactive Features  Credit Storm
See where trust has been replaced by fear throughout the financial system.
Understanding the Problem

Wall Street by Jesse Eisinger

The View From the Street

Market Movers by Felix Salmon



Digging Deeper
The problem isn't just that lenders are irresponsible and predatory. They're also too clever by half.
Big investment banks, loaded with dangerous amounts of debt, face their own version of a subprime slump. Can they all survive?
Two decades after Black Monday, we?re in the same predicament we were in 1987?except this time it?s worse.
If Warren Buffett can't figure out derivatives, can anybody?
Even if credit markets remain tight, that's no reason to panic. Nor is it an excuse not to make money.
A fantasy account of what happened when then-Citigroup C.E.O. Chuck Prince visited buyout king Henry Kravis as the crisis grew.
View More Guides
Crisis Made Easy
CDOs
Portfolio.com explains collateralized debt obligations, a key element of the crisis.... Read More
S.I.V.'s interactive
A look inside structured investment vehicles, another vector for the meltdown.... Read More
Bear Stearns graphic novel
In graphic novel form: What happened to Bear Stearns in those frenzied days in March.... Read More
Wall Street Graveyard
A collection of once-powerful banking names that are no longer found on Wall Street.... Read More
Sitting Ducks
Which financial C.E.O. might be next in the crosshairs?... Read More
Video
In Discussion

"One solution is to require every mortgage be insured. That would ensure someone has a large financial stake in the mortgage's performance.…" Read more

by David about
How Models Caused the Credit Crisis

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"This isn't a 'con game', this is legitimate world financial markets looking for ethical leadership. …" Read more

by Tim Nelson about
Bank Job

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"An obvious solution: A company should be rewarded for the strength of its balance sheet not its ability to leverage and grow unsustainably.…" Read more

by AKFL about
It's a Mad, Mad, Mad, Mad World

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