Financial crisis of 2007

"Financial crisis of 2007" is a title based upon conjecture.

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President Obama gives a statement regarding his plan for the financial crisis. (TV: The End of Time ^[+]Loading...["The End of Time (TV story)"])

In 2007, a so-called "business" began which had something to do with banks in America which "tank[ed]" the world economy; (PROSE: The Story of Fester Cat ^[+]Loading...["The Story of Fester Cat (novel)"]) this resulted in the credit crunch of 2008 (TV: The Curse of Clyde Langer (part one) ^[+]Loading...{"part":"One","1":"The Curse of Clyde Langer (TV story)"}) and a recession. (TV: The End of Time (part one) ^[+]Loading...{"part":"One","1":"The End of Time (TV story)"})

History

Build-up

In the late 2000s, Theo Lawson hacked into several multinational banks and acquired enough money for the rest of his life, thereby triggering the recession in the process. (AUDIO: Situation Vacant ^[+]Loading...["Situation Vacant (audio story)"])

In 2007, when Albert visited Paul Magrs and Jeremy, he told them that he knew that the "world economy was going to tank" and that people had no idea how bad it was going to be, likening it to the Depression and the dark ages. (PROSE: The Story of Fester Cat ^[+]Loading...["The Story of Fester Cat (novel)"])

The crisis

Rhys Williams would later suggest that the 2008 crisis was instigated by the Three Families as the first stage of their plan, with Gwen Cooper conceding that it was possible. (TV: End of the Road ^[+]Loading...["End of the Road (TV story)"])

In the late 2000s, Christina de Souza's father invested his fortune in the Icelandic banks, only to lose it all. Christina later cited this as the reason she became a thief. (TV: Planet of the Dead ^[+]Loading...["Planet of the Dead (TV story)"])

Following economic collapse

In 2009, Harry Sowersby stated that the credit crunch was one of the factors for the Danemouth Pleasure Park closing down, saying that "people can't afford to have fun anymore". (TV: The Mad Woman in the Attic (part one) ^[+]Loading...{"part":"One","1":"The Mad Woman in the Attic (TV story)"})

In circa 2009, US President Barack Obama planned to save the world with some "big financial scheme", according to Tommo, who discussed the crisis with another homeless man, Ginger; he believed that Obama's plan wouldn't help or change their situation.

Shaun Temple hoped the plan would end the recession, as it had impacted his income. An AMNN newsreader claimed that the President had "promised an instant and radical solution to the worldwide depression", to lead everyone into a "new age of prosperity".

Following the creation of the "Master Race", Obama and every other human on the planet took the form of the Saxon Master, who subsequently declared the financial solution "deleted". (TV: The End of Time (part one) ^[+]Loading...{"part":"one","1":"The End of Time (TV story)"})

In 2011, Pittman suggested that the credit crunch of 2008 had parallels to the fall of the French aristocracy in the 1790s. (TV: The Curse of Clyde Langer (part one) ^[+]Loading...{"part":"One","1":"The Curse of Clyde Langer (TV story)"})

A recession occurred in 2011 in the wake of Miracle Day. (TV: The Gathering ^[+]Loading...["The Gathering (TV story)"]) As Rhys Williams learnt on the television news, a run on the banks was anticipated, which he likened to "a Lehman Brothers' thing". Noting that everything had been on a "knife edge" since 2008, Rhys said that the pension funds would go bankrupt because of the Miracle and set off a domino effect. Heeffecton to speculate about the possible involvement of the Three Families. (TV: End of the Road ^[+]Loading...["End of the Road (TV story)"])