That's odd..... the Russian government devalued the ruble, defaulted on domestic debt, and declared a moratorium on repayment of foreign debt in
August 1998.
The filing for Chapter 11 bankruptcy protection by financial services firm Lehman Brothers on September 15, 2008 remains the largest bankruptcy filing in U.S. history, with Lehman holding over $600 billion in assets.
The bank had become so deeply involved in mortgage origination that it had effectively become a real estate hedge fund disguised as an investment bank. At the height of the subprime mortgage crisis, it was exceptionally vulnerable to any downturn in real estate values.
Can't argue though with factory closings and job losses except to note that it only exacerbated the effects of lower lending standards that came with the everybody should own a home mind set in Washington a decade earlier.
Again...from the New York Times
But the government-subsidized corporation [Fannie Mae] may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980s.
I don't know nuttin about the mafia but I'll take your word for it