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QUESTIONS
1. Explain the Economic Crisis of 2008 and how it
affected the economy and people.
2. Compare the Crisis
with the Great Depression.
3. Do a bit of
research and compare the Great Depression, Economic crisis of 2008 to what is happening
now.
Economic Crisis of 2008
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The
economic crisis of 2008
The financial crisis of 2008 was an acute contraction of liquidity in the banking industry, which emanated from the United States of America following the collapse of the United States housing finance. The crisis was the greatest economic crisis since the Great Recession. The crisis's primary cause was the government's deregulation and securitization of loans (Bartmann, 2017). Lack of regulation of banks' performance gave them the power to engage in derivative transactions and lending money to subprime who, most of the time, lacked good credit rating and never played back. Eventually, banks' act investing customers' deposits in mortgage and securitization depleted the banks' financial reservoir, making them hard to operate and exited the...
