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It was a financial tsunami not seen since the Great Depression in the 1930s. A crisis that has forced the US government to step in and save the financial system after trillions were wiped of global stock markets.
Once revered institutions were swept of the face of Wall Street. In a special series of programmes from Al Jazeera's news centres across the world Inside Story looks at the global implications of the recent crisis on Wall Street.
In New York we look at the deep and complex roots of the crisis and ask if the US government's rescue plan to save the markets will work or if it is a case of too little too late.
In Kuala Lumpur we examine how a financial crisis made in the US has been exported to banks and markets in Asia.
The region's central banks are pumping billions of dollars into the banking system in the hope of avoiding a collapse.
Can Asia avoid a repeat of the recession that brought the region's economies to their knees almost a decade ago?
In London we look at how parts of Lehman Brothers are saved by a British bank – which says it plans to splash out $2.5 billion in bonuses on the very bankers that brought the US giant to its knees. Were no lessons learnt from the financial turmoil?
And in Doha we report from the Gulf where soaring oil profits have kept the region insulated from the worst of the financial fallout.
What role will Middle Eastern oil producers take in a new global economy and what will the economic downturn mean for oil prices.
The special week of Inside Story can be seen daily at 1730GMT.
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