It has been 12 months since US investment bank Lehman Brothers failed and set off a roller coaster ride for the global economy. Money markets and credit markets seized up; shares crashed taking US shares to their worst bear market since the 1930s and Australian shares to their worst slump since 1973-74; global trade went into free fall as a result of a slump in confidence and trade finance; and the world economy was knocked into its first contraction since the 1930s.


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