SUBJECT CENTRE LEGACY RESOURCE
Subject Centre for HLST Learning Legacies Discussion Starter
The economic crisis of 2008 affected the entire nation on both a macro and micro economic level. Kicked off by the sub‐prime mortgage crisis of 2008 the global meltdown witnessed major financial institutions such as Lehman Brothers and Northern Rock break apart dragging down global markets with them.
The impact on the private sector has been tremendous involving multiple write‐downs bankruptcies scaling down of operations and a major fall in the disposable income of consumers and the available liquid assets of corporations. As a result any investments relating to non‐core activity have been severely detrimentally affected. Such a scenario has slashed private sector funding for the London 2012 Olympic Games.
