Global financial crisis averted with $150bn bailout, UK leads the way.
During the financial crisis of 2007-2010, the European Central Bank and the US Federal Reserve injected $150 billion into capital markets to prevent a credit squeeze. Financial institutions in Europe struggled to issue bonds, leading to concerns about bank runs and failures. The UK government led the way with a £400 billion bank bailout plan to stabilize its banks. Corporate bond issuance surpassed that of financial institutions by the end of the year.