Great Gatsby -
The banking system itself may never have been in danger, but - obviously - banks were in danger. We know this, because those banks no longer exist.
How many major trading banks were wiped out? Maybe 15 or 20, I guess?
There is no question at all that what the global economy exprienced in 2008 was unprecedented in our lifetimes, and was at last the worst financial crisis since 1934, and possibly ever.
Any intelligent person knew this was going to mean higher unemployment and lower per capita incomes for the next five years, at least, and right around the world. I'm jusy amazed to see how many people on this thread did not understand that, or choose to be wilfuly ignorant to make it a partisan issue.