Global Financial Crisis
The current recession encompasses the worst economic conditions seen in the United States since the Great Depression. According to the National Bureau of Economic Research this economic downturn began in December 2007, however some of its roots lay in the remedies for the previous official recession, which happened during 2001. The links in this guide take you through recent interest rate cuts, subprime mortgage issuance and asset-backed securities and how they led to the current state of the economy.
During 2001, the U.S. economy saw a roughly eight-month long recession spurred on by the dot-com ... read more »
Some banks repackaged their mortgage debt and sold it to investment banks as financial instruments ... read more »
Mortgage companies had already begun to go by the wayside, and margin calls were made on hedge ... read more »
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