Financial Crisis of 2007 - 2010
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The financial crisis of 2007 2010 has been called by leading economists the worst financial crisis since the Great Depression of the 1930s. Economist Peter Morici has termed it "The Great Recession." It contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been proposed, with varying weight assigned by experts. Both market-based and regulatory solutions have been implemented or are under consideration, while ...
The financial crisis of 2007 2010 has been called by leading economists the worst financial crisis since the Great Depression of the 1930s. Economist Peter Morici has termed it "The Great Recession." It contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been proposed, with varying weight assigned by experts. Both market-based and regulatory solutions have been implemented or are under consideration, while significant risks remain for the world economy over the 2010 2011 periods. The collapse of a global housing bubble, which peaked in the U.S. in 2006, caused the values of securities tied to real estate pricing to plummet thereafter, damaging financial institutions globally
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