Six years ago, the financial crisis crippled the American banking industry, and the devastating effects ripple across the world.
Businesses went down, and people lost their jobs.
But the memory of the key events of the financial crisis is slowly fading. Hearings, lawsuits, bailouts — it all gets muddled together.
Business Insider has outlined the major moments from 2007 to 2009.
From the initial reports of subprime defaults to the collapse of Lehman Brothers to AIG’s second bailout, here are the 27 scariest moments of the financial crisis.
Editor’s Note: Former Business Insider reporter Steven Perlberg contributed to this feature.
APRIL 2, 2007: New Century files for bankruptcy. It was the largest subprime lender in the United States.
JUNE 21, 2007: Merrill Lynch sells off assets in two Bear Stearns hedge funds as the funds hemorrhage billions of dollars on bad subprime bets.