Great Financial Crises, Part 11: The Mexican Peso Crisis (1994)
In December 1994, Mexico's peso collapsed by about half within months, just a year after NAFTA began. Here is how the crisis unfolded and how a $50 billion rescue stopped it.
Great Financial Crises, Part 10: The Savings and Loan Crisis
In the 1980s, America's savings and loans were squeezed by high interest rates, then took big risks to survive. Hundreds failed. Here is how the S&L crisis unfolded and what it cost.
Great Financial Crises, Part 9: Japan's Bubble and the Lost Decades
In December 1989, the Nikkei hit 38,915. It would not beat that level again until 2024. Here is how Japan's great bubble formed, burst and shaped decades of slow growth.
Great Financial Crises, Part 8: Black Monday (1987)
On 19 October 1987, US stocks fell 22.6% in a single day, the biggest one-day percentage drop in Dow history. Yet no recession followed. Here is why.
Great Financial Crises, Part 7: The Latin American Debt Crisis (1982)
In August 1982, Mexico said it could no longer pay its debts. Within months, much of Latin America was in crisis. Here is how it happened and why it became a "lost decade."
Great Financial Crises, Part 6: The 1970s Oil Shocks and Stagflation
Oil prices nearly quadrupled in a few months, and inflation hit about 14.5%. Here is how the 1970s oil shocks created stagflation and the painful cure that followed.
Great Financial Crises, Part 5: Weimar Hyperinflation (1923)
By November 1923, one US dollar bought 4.2 trillion German marks. Here is how war, reparations and the printing press destroyed a currency, and how Germany stopped it.
Great Financial Crises, Part 4: The Wall Street Crash of 1929 and the Great Depression
The Dow fell 89% from 1929 to 1932 and took until 1954 to recover. Here is how the crash happened, why banks then failed by the thousand, and what it taught the world.
Great Financial Crises, Part 3: The Panic of 1907 and the Birth of the Federal Reserve
In October 1907, a failed stock-market gamble triggered a run on New York's trust companies. With no central bank, one banker stepped in. Here is how the Panic of 1907 unfolded.