Tackling The Financial Crisis With Antitrust Claims

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.

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.