As we write, the world is still in the grips of a financial crisis. Germany was one of the first countries to bail out a bank in July 2007. Then, in September 2007, the United Kingdom (UK) witnessed a run on a building society, Northern Rock, and the subsequent widespread nationalization of its banking sector. In the United States, the crisis led to a number of collapses among financial institutions, most famously Bear Stearns and Lehman Brothers, and the bail out of the insurance group, AIG, all in 2008.
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