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Tooze is an economic historian and crashed how a decade of financial crises changed the world is a wonderfully rich enquiry into causes and effects of the financial crisis and how the failing of poorly managed greed motivated practices of a few financial institutions and their subprime mortgagees tumbled economies in the developed and developing world causing events that matched the great . Crashed how a decade of financial crises changed the world review storm clouds gather over the financial district of londons canary wharf in 2008 photograph matt cardy getty images. Crashed how a decade of financial crises changed the world by adam tooze is an epic look at the financial crisis of 2008 and its aftermath up to the present day tooze examines both the 2008 crisis in its origins within the sketchy mortgage baked securities mbs trade and the growth of asset backed commercial paper abcp and the influence of the repo market in us securities trading. This is a production by the national history center in cooperation with the woodrow wilson centers history and public policy program in washington dc in sep. In the concluding chapter of crashed adam tooze argues that the collapse of the us bank lehman brothers was one of the defining moments in our collective sense of historyindeed everyone has their own story of what they were doing on the morning of 15 september 2008 when lehman filed for bankruptcy and triggered immense financial instability that reverberated throughout the world