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The financial crisis of 2007–08 was a severe contraction of liquidity in global financial markets that originated in the United States as a result of the collapse of the U.S. housing market. It precipitated the Great Recession (2007–09), the worst economic downturn in the United States since the Great Depression.
While the causes of the bubble and subsequent crash are disputed, the precipitating factor for the Financial Crisis of 2007–2008 was the bursting of the United States housing bubble and the subsequent subprime mortgage crisis, which occurred due to a high default rate and resulting foreclosures of mortgage loans, particularly adjustable-rate mortgages.
Dec 18, 2023 · The Great Recession refers to the economic downturn from 2007 to 2009 after the bursting of the U.S. housing bubble and the global financial crisis.
Oct 8, 2022 · How Was the Financial Crisis of 2007–2008 Resolved? In September 2008, Congress approved the “Bailout Bill,” which provided $700 billion to add emergency liquidity to the markets.
May 13, 2015 · The financial crisis of 2007–2009 was the culmination of a credit crunch that began in the summer of 2006 and continued into 2007. 8 Most agree that the crisis had its roots in the U.S. housing market, although I will later also discuss some of the factors that contributed to the housing price bubble that burst during the crisis.
- Anjan V. Thakor
- 2015
Aug 25, 2024 · The 2008 financial crisis was years in the making. A reckoning was due for a years-long binge fueled by cheap credit. In mid-2007, two Bear Stearns hedge funds collapsed, BNP Paribas was warning ...
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May 26, 2024 · Decades of Deregulation Set the Stage. The roots of the 2008 crisis can be traced to a decades-long trend of financial deregulation. Starting in the 1980s, a wave of laissez-faire economic policies championed by President Ronald Reagan and Federal Reserve Chairman Alan Greenspan began chipping away at many of the safeguards put in place after the Great Depression.
