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Investment bank that filed for bankruptcy on September 15, 2008, sparking global financial panic.

A nationwide financial crisis occurring between 2007 and 2010, related to the collapse of housing bubble and high default rates on "subprime" mortgages.

A financial derivative or contract that allows an investor to "swap" or offset their credit risk with that of another investor.

A program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector (2008)

Investment bank that was sold to JPMorgan Chase in March 2008, an early indicator of the coming financial crisis.

A monetary policy where a central bank purchases government securities or other securities from the market to lower interest rates and increase the money supply.

The date Lehman Brothers filed for the largest bankruptcy in U.S. history.

A federal law that placed major regulations on the financial industry and created programs to stop mortgage foreclosures and predatory lending.

An economic stimulus package enacted by the 111th U.S. Congress and signed into law by President Obama in February 2009.

A type of asset-backed security that is secured by a mortgage or collection of mortgages.

The repeal of portions of the Glass-Steagall Act in 1999 by the Gramm-Leach-Bliley Act allowed commercial and investment banks to consolidate.

The central banking system of the United States, which took significant measures to combat the financial crisis.

In September 2008, the U.S. government bailed out American International Group (AIG), the world's largest insurance company, with a loan of $85 billion.$

A failure to meet the legal obligations (or conditions) of a loan, such as when a home buyer fails to make a mortgage payment.

The severe global financial crisis that happened in 2008, involving the failure of several major banks and financial institutions.

Financial assets whose value has fallen significantly and for which there is no longer a functioning market, such as certain mortgage-backed securities during the crisis.

An economic bubble that occurs in the real estate market, characterized by rapidly rising property prices, until they reach unsustainable levels and then decline.

Government-sponsored enterprises (GSEs) that were taken into conservatorship by the U.S. government in September 2008.

Short-term loans made between banks, which became problematic during the financial crisis as trust between banks eroded.