Could I ask who's calling? 12yo nn The crisis brought with it a serious recession, rising unemployment â and a sense of panic. In 2008, the corporate titans, bank CEOs and policy makers closest to the action did not want to say out loud exactly how bad things looked. Perhaps they were afraid to show any signs of weakness, because confidence was so fragile and so crucial. Perhaps it was because the crisis was so all-encompassing that moments to reflect were almost impossible to come by.