Global financial crisis in October 2008

== Beginning of October == The policy response to the subprime crisis started in earnest after Lehman Brothers' failure in mid-September 2008, accelerated after February 2009, and had become very large by September 2009. Governments have relied on a portfolio of intervention tools, but the biggest commitments and outlays have been in the form of debt and asset guarantees, while purchases of bad assets have been very limited.

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