2008 C6 Chevrolet Corvette Model Guide
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The arrival of the 2008 Corvette was met by a volatile U.S. economy with a very uncertain future. U.S. mortgage-backed securities, which were marketed around the world, carried hard to assess financial risks. These risks proved to have an enormously adverse impact to lending institutions around the globe, as banks watched the securities they had tied to real estate begin to plummet.
With loan losses mounting and the fall of Lehman Brothers on September 15, 2008, a major panic broke out on the inter-bank loan market. Housing prices and stock shares declined, causing many large and well established investment and commercial banks in the United States and Europe to suffer huge financial losses – and others to face the real possibility of bankruptcy.
The financial crisis, which would become known as the “Great Recession,” would quickly spread beyond the housing and investment markets. In just a matter of months, the financial decline would begin to have an adverse impact on almost all consumer markets. It stood to reason that as housing market values plummeted and the strength of the dollar diminished, American consumers would understandably become increasingly reluctant to spend money. This recessionary decline in spending would hurt commercial and retail businesses around the globe, and would cause a sharp drop in new car sales within the United States automotive markets.
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