The global financial crisis of 2008 was precipitated by the bursting of the US subprime housing bubble, leading to widespread bank collapses and economic turmoil. The bankruptcy of Lehman Brothers marked a critical moment in the crisis, triggering a severe recession that affected economies worldwide. This event highlighted systemic vulnerabilities in the financial system and prompted significant regulatory reforms aimed at preventing future crises.

The 2008 financial crisis and the collapse of Lehman Brothers sparked a wave of protest poetry across Europe. Poets like Claudia Rankine and Ocean Vuong scrutinized hyper-financialization and inequality, using their work to voice dissent and advocate for social justice.