Investment Perspectives 3Q October 2013
It has been five years since the collapse of Lehman Brothers and the unofficial beginning of the global financial crisis. While the Lehman bankruptcy occurred in September 2008, the record will show that the U.S. recession actually started in December 2007 and ended in the summer of 2009. Some indicators have returned to well above their pre-crisis peaks, while a number of others have lagged. In this piece we review the primary causes of the crisis and discuss the uneven recovery we have experienced to date.