A Dreary Anniversary

This date, one year ago, marked one of the largest bankruptcies in this nation's history. It is the anniversary of the falling of the financial giant, Lehman’s. This huge economic catastrophe sent the nation’s economy into a whirlwind of upset, spiraling into a recession that, according to Ben Bernanke (Federal Reserve Chairman), was comparable to the beginnings of the Great Depression.

Since that day, the government has had to reach out in an extensive rescue attempt to salvage the nation’s financial stability. With some opposing the government’s involvement in the credit market, it has been a rocky road to this date.

Some improvements have been made in the market, and some financial analysts predict that a year from now, even more improvements will be visible. However, they say, the journey to a full recovery will not necessarily be a smooth one.

The president addresses the financial giant, and others like it, with a warning that government rescue will begin to lessen. He wants to make sure that, from this point on, more preventive measures and procedures will be followed so as not to fall into the same traps again in the future.