While the full-blown crisis did not erupt until the collapse of Lehman Brothers in September 2008, it was clear by the summer of 2007 that something was very wrong in credit markets, which were starting to behave in all sorts of strange ways.
Hoewel de echte crisis pas uitbrak na het faillissement van de zakenbank Lehman Brothers in september 2008, was het al in de zomer van 2007 duidelijk dat er iets heel scheef zat op de kredietmarkten, die zich op allerlei vreemde manieren begonnen te bewegen.