What happened onMarch 2, 2008Sunday Week 9

Today is September12, 2026 Saturday.

March 2 is a Sunday again in 2014.

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The World in 2008 the year the banks broke

Iceland's three big banks had grown until they owed about ten times what the whole country earned in a year. All three failed inside one week.

Life back then

The iPhone 3G and its new App Store turned phones into app machines, and the first Android phone followed in the fall. Money worries were everywhere: banks failed, house prices fell and shoppers hunted for deals. Facebook passed MySpace this year to become the biggest social network in the world. In Sweden, a small startup called Spotify opened its doors and let people stream songs instead of buying them.

The year in 8 events

• 🕊️Feb 17 Kosovo declares independence from Serbia.
• 🕯️May 12 A huge earthquake strikes Sichuan, China. About 87,000 people die or go missing.
• 📱Jul 10 Apple opens the App Store with about 500 apps. A whole new industry is born.
• 🏅Aug 8 The Summer Olympics open in Beijing at 8:08 pm on 8/8/08.
• 📉Sep 15 Lehman Brothers files for bankruptcy. Markets crash around the world and the financial crisis goes global.
• 🏦Oct 9 Iceland takes over Kaupthing, the last of its three big banks to fail. The country's savings and currency go down with them.
• 🗳️Nov 4 Barack Obama wins the US election and becomes the first Black president-elect.
• 🕯️Nov 26 Gunmen attack hotels, a station and a cafe in Mumbai over three days. About 170 people die.

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