Law360, New York (January 09, 2012, 1:47 PM ET) -- In 2008, a series of financial market and bank failures triggered a worldwide financial crisis and recession. The crisis effectively halted global credit markets and required unprecedented government intervention.
The U.S. government provided $700 billion in bank bailouts and took over Fannie Mae and Freddie Mac. With extensive write-downs due to the financial crisis, some of the largest banks, including Washington Mutual, Bear Stearns and Merrill Lynch, had to decide whether to fail or be acquired.
Washington Mutual and Bear Stearns were acquired by JP Morgan,...
Tackling The Financial Crisis With Antitrust Claims
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