SAVING

When saving becomes a nightmare: some of the biggest bank failures in history

From the financial crises that caused them to the repercussions on world economies, here are some of the biggest bank failures in history.

From Lemhan Brothers to Washington Mutual, from Barings Bank to Banco Espírito Santo, looking at what is happening in Switzerland, it does not appear that world finance has learned its lesson.

The failure of a bank is still a very delicate time, both for companies that have invested their capital and for individuals, who risk losing large sums of money.

ANSA/wikipedia.org
Some of the biggest bank failures in history
From the financial crises that caused them to the repercussions on world economies, here are some of the biggest bank failures in history. From Lemhan Brothers to Washington Mutual, from Barings Bank to Banco Espírito Santo, looking at what is happening in Switzerland it does not seem that world finance has learnt its lesson. A bank failure is in any case a very delicate moment, both for companies that have invested their capital and for private individuals, who risk losing large sums of money.
ANSA
Lehman Brothers (2008)
The 2008 financial crisis saw the fall of Lehman Brothers, the fourth largest investment bank in the United States. The collapse was mainly caused by the massive exposure to subprime mortgage securities and the subsequent mortgage crisis.
ANSA
Washington Mutual (2008)
Washington Mutual was another banking giant to fall in 2008. Its bankruptcy was caused mainly by high-risk mortgage lending and the housing market crisis. It was the largest banking bankruptcy in U.S. history.
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Barings Bank (1995)
Barings Bank, founded in 1762, was the oldest investment bank in the United Kingdom. Its failure was caused by the actions of the trader Nick Leeson, which accumulated losses of more than $1 billion due to unauthorized speculative transactions
https://commons.wikimedia.org/wiki/File:Banco_Espirito_Santo_Lisbon.jpg#/media/File:Banco_Espirito_S
Banco Espírito Santo (2014)
Banco Espírito Santo was one of the largest bank failures in Europe. The Portuguese bank collapsed due to a combination of fraud, sovereign debt exposure, and corporate mismanagement.
https://commons.wikimedia.org/wiki/File:Continental_Illinois_Bank_Building.jpg#/media/File:Continent
Continental Illinois (1984)
In May 1984, Continental Illinois National Bank and Trust Company, then the seventh largest bank in the United States, was hit by a severe liquidity crisis due to bad loans and mismanagement. The bank was eventually rescued by Federal Reserve and the FDIC in what at the time was the largest bank rescue operation in American history.
https://commons.wikimedia.org/wiki/File:The_Bank_of_Credit_and_Commerce_International_(BCCI),_Karach
Bank of Credit and Commerce International (1991)
The Bank of Credit and Commerce International (BCCI) was closed in 1991 following a fraud and money laundering scandal. The bank, founded in 1972, was based in Luxembourg and operated globally, with branches in more than 70 countries. Its closure was one of the largest bank liquidation operations ever recorded.
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