Indeed, the use of derivatives to conceal credit risk from third parties while protecting derivative counterparties contributed to the financial crisis of 2008 in the United States.

This led to a crisis of confidence, indicated by a widening of bond yield spreads and risk insurance on credit default swaps compared to other countries, most importantly Germany.

Regulations passed in the United States and Europe after the 2008 credit crisis are intended to increase government oversight of hedge funds and eliminate certain regulatory gaps.

In the past, investments offering exceptional returns or low interest rates, or a combination, led to lowered credit standards which, in turn, created a speculative boom and high debt levels, followed by a crash and financial crisis.

With considerable skill and some luck, Walpole acted quickly to restore public credit and confidence, and led the country out of the crisis.

In a 2011 news story, Investor's Business Daily wrote, " Before the mortgage crisis, Attorney General Janet Reno accused banks of racism for failing to market mortgages to poor minorities with weak credit.

These features, despite negative credit ratings, have allowed Spain to resist the onslaught of the crisis and the severe economic measures implemented in 2012 by the Mariano Rajoy government.

The Congress had no more credit if another military crisis had required action.

Australia entered the Depression with a debt crisis and a credit crisis.

Some had even believed that the issue was enough to cast North from office and restore Pitt as Prime Minister-although the ultimate result was to strengthen the position of North who took credit for his firm handling of the crisis and was able to fill the cabinet with his own supporters.

The economic developments in the latter third of the decade were dominated by a worldwide economic downturn, which started with the crisis in housing and credit in the United States in late 2007, and led to the bankruptcy of major banks and other financial institutions.

Considered by some economists to be a rare and extreme form of recession, a depression is characterized by its length ; by abnormally large increases in unemployment ; falls in the availability of credit, often due to some kind of banking or financial crisis ; shrinking output as buyers dry up and suppliers cut back on production and investment ; large number of bankruptcies including sovereign debt defaults ; significantly reduced amounts of trade and commerce, especially international ; as well as highly volatile relative currency value fluctuations, most often due to devaluations.

In order to ensure that he did not lose his patronage during the crisis, Hill lowered rail tariff shipping rates for farmers and gave credit to many of the businesses he owned so they could continue paying their workers.

During the financial crisis of 2007 – 2010, a poster of a Hello Kitty pre-paid debit card expanded to roughly 1 meter in length was displayed on the floor of the US Senate by Senator Byron Dorgan as a demonstration of extreme methods used by credit companies to attract " children 10 to 14 years of age ".

The central bank's reaction to the crisis – a clumsy expansion, then a sharp contraction of credit – indicated its weakness, not its strength.

Texaco also enters agreement with Howard Johnson's for Texaco credit card to be honored for charging of lodging and food at Howard Johnson motor lodges, a widespread trend of the time among major oil companies that would last until the 1973 oil crisis.

Along with a trade imbalance and balance of payment problem, its need for credit to finance its budget deficits made Argentina's economy vulnerable to economic crisis and instability.

Its trading in credit derivatives essentially bankrupted its parent company, AIG, and helped create the global financial crisis of 2008 – 2009.

In March 2008, Carlyle Capital Corporation, established in August 2006 for the purpose of making investments in U. S. mortgage-backed securities, defaulted on about US $ 16. 6 billion of debt as the global credit crunch brought about by the subprime mortgage crisis worsened for leveraged investors.

This was the first foreign company to buy a failed bank during the credit crisis of 2008 and 2009.

In the subprime crisis, however, national credit authorities ( the Federal Reserve in the US ) assumed the ultimate risk on behalf of the citizenry at large.

In recent years, the euro's increase in the share of the worldwide currency reserve basket has continued to increase — albeit at a slower rate than prior to the beginning of the worldwide credit crunch related recession and sovereign debt crisis, which adversely impacted the Euro and slowed its adoption

* Attempts to regulate more strictly credit rating agencies in the wake of the European sovereign debt crisis have been rather unsuccessful.

The ongoing global credit crisis has affected farm credits, despite a boom in commodity prices.

However the 2008 credit crunch was hard on hedge funds and they declined in value and hampered " liquidity in some markets " causing some hedge funds to restrict investor withdrawals.

The Financial Crisis of 2008 severely disrupted the Latvian economy, primarily as a result of the easy credit bubble that began building up during 2004.

Additional controversy over development proposals arose from the weakening of the Bay Area and national economy in 2000, 2001, 2007, and the credit crunch and the recession of 2008.

The New Mexico state income tax credit was originated in 2003. 581 New transferability legislation, effective January 1, 2008, applies retroactively to conservation easements effected from January 1, 2004.

In August 2008 it was reported by The Consumerist that Discovery Channel had stopped their popular MythBusters program from airing an episode examining RFID security in regard to its implementation in credit cards because the episode would upset credit card companies, who are major advertisers on Discovery Channel.

According to the TransUnion credit bureau Calhoun County is the only county in the United States to have a 0 % delinquency rate on both credit cards and mortgages as of October 2008.

There have been many revisions since, and the UK government states that it remains committed to heritage protection legislation reform, even though the draft Heritage Protection Bill 2008, which proposed a single ' register ' that included scheduled monuments and listed buildings, was abandoned to make room in the parliamentary legislative programme for measures to deal with the credit crunch.

In the meantime, in December 2008, the New Jersey Division of Civil Rights found that there was probable cause to credit the same-sex couple's complaint.

In 2008, there were 4, 607 full-Time equivalent credit enrollments and 7, 401 non-credit students served by 133 full-time faculty, 360 part-time instructors, and 155 part-time non-credit teachers together with 227 full-time staff and 131 part-time staff.

However, in July 2008, United Properties ' requested a one-year extension on the terms of the purchase agreement, citing difficulties in the credit and housing markets to acquire the necessary funds.

In response to the forced liquidation of mortgage-backed assets caused by the Carlyle margin calls and other similar developments in credit markets, on March 11, 2008, the Federal Reserve gave Wall Street's primary dealers the right to post mortgaged-back securities as collateral for loans of up to $ 200 billion in higher-grade, U. S. government-backed securities.

The building is now empty and boarded-up, following the collapse of the Bradford and Bingley in the 2008 credit crunch.

In the Fall of 2008, the School instituted a new, enhanced curriculum, moving from a three credit to a four credit course model intended to provide students with " a more rigorous, focused, and deeper learning experience.

Zimmer succeeded in reversing the decision not to nominate The Dark Knight in December 2008, arguing that the process of creating a modern film score was collaborative, and that it was important to credit a range of people who had played a part in its production.

In December 2008, NS & I dropped significantly the interest rate ( and therefore the odds of investors winning a prize ) due to the corresponding significant drop in the Bank of England base rate during the " credit crunch ", leading to strong criticism from Members of Parliament, financial experts, and holders of premium bonds ; many claimed that Premium Bonds were now " worthless ", and somebody with the maximum £ 30, 000 invested who has " average luck " would win only 10 prizes per year compared to 15 in the previous year.

A 2008 study of microcredit programs in Bangladesh found that women often act merely as collection agents for their husbands and sons, such that the men spend the money themselves while women are saddled with the credit risk.

In early 2008, Geoffrey Hughes reprised his role as Onslow once again for a clipshow of the series ; this was to be broadcast on American television, and sees him teaching a credit course at the Open University, and has selected " successful relationships " as his subject matter.