Years After Lehman: Final Rules Set on Strengthening Banks

The Basel committee rules have been an ongoing international response to the 2007-2009 financial crisis that saw the bankruptcy of U.S. investment bank Lehman Brothers and taxpayer bailouts of big banks. The financial crisis was the prelude to the Great Recession that saw many people lose their jobs and homes. Governments in the United States, Europe and elsewhere were pushed to rescue banks to prevent a cutoff of credit to businesses that would further harm the economy and increase unemployment.