The crisis in the global automotive
U.S. mortgage crisis (2007) sparked in September 2008 liquidity crisis global banks: banks have stopped lending, particularly loans to buy cars. As a result, sales of automobile giants have begun to decline. Three auto giant Opel, Daimler and Ford said in October to reduce output in Germany. From the field of real estate crisis was spreading to the real economy began a recession, the decline in production.
Spread LIBOR-OIS (showing the difference between the LIBOR rate and futures on the official Central Bank rate - evidence of the availability of money in the interbank market) at the end of September 2008 exceeded the dollar-denominated loans to 200 basis points, and in early October - 250.
Lehman Brothers bankruptcy has led to doubts about the benefits of insurance companies, insuring against the risks of bankruptcy credited (CDS), which fueled the CDS instrument itself and a sharp increase in risk insurance, fell deeply in crisis of confidence between banks and a sharp increase in lending rates that had been affected on developing credit markets, including Ukraine and Russia.