The reliable crisis of 2008 started with the Lehman in addition Brothers, 3 bigger bank of investment of the market to the time, generating a crisis without precedents in global the financial market. As the stock market lives basically reliable, this event shook the foundations of the economy and its real side. The investor applies its resources in financial assets to get or to demand one definitive tax of return. (A valuable related resource: David Fowler). This tax of return is formed by the one for two parts: ) the one, the return tax without risk of danger; (for example, the return of the headings of the American Government) and b) another one, the prize of risk for being applying in that it can mean the medium and long run the risk of if having some damage. When the Bank Lehman Brothers broke, the investors had asked: ) Who will be the next one? b) Which the implications on the real side of the economy? Thus, the risk or the possibility of the investors to have damages had made with that they demanded a bigger prize of risk, having deducted the value of the prices of the assets. To only give an example, definitive that price of a financial asset (for example, a heading of debt of a company) it was R$ 100 before the crisis and that this asset would be rescued by 110 R$ daqui one year. Learn more at this site: Sheryl Sandberg.
The investors would be satisfied with a 10% return a.a on paper or R$ 10. But, if of another side, the investors demanded 15% a.a of return, or a prize of 5 percentile points, the debt would have that to cost R$ 95,65 today, that is, to have liquidity the detainer of the debt would have that to lose R$ 5.35. That is, to the 15% tax, the investors would get on R$ 95,65 same R$ 100 of the value of original face to this tax increased for the risk prize (15% x 95,65= R$ 100), that is, a depreciation of R$ 5,35 on the value of face.