Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the honourable member for his question. Last night President Obama spoke in New York on the first anniversary of the collapse of Lehman Brothers. That day in some respects, as we know, marked the onset of the global financial crisis, the global economic crisis and, of course, the global employment crisis—and the worst global recession that we have seen since the Great Depression three-quarters of a century ago. The President’s speech looked back to the dark days of September last year when the global financial system teetered on the brink of collapse and when the global economy stared into the abyss.

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