In the News A reminder: credit unions didn’t cause the financial crisis
The past several weeks have seen the fifth anniversaries of several of the epic failures of the 2008 financial crisis. There was the conservatorship of Fannie Mae and Freddie Mac; the bankruptcy of Lehman Brothers; the failure and near-nationalization of American International Group; the day the Reserve Fund “broke the buck”; the Dow Jones’ record plunge of 777 points in one trading day; and, of course, the passage by Congress of the Troubled Asset Relief Program.
