The Great Recession
The Great Recession
Understand the essentials of the Great Recession in just 50 minutes with this practical and concise book. This major economic crisis spanned the period from 2007 to 2009 and had disastrous consequences around the world, with millions of Americans losing their homes and numerous financial institutions driven to bankruptcy. The presence of toxic assets in banks in Europe and the USA also posed a significant threat to the sovereign debt of multiple countries.
This book will provide you with a handy introduction to the causes of the Great Recession, including the subprime mortgage crisis and the widespread use of securitization, and its consequences around the world. It also features a detailed examination of the steps taken to mitigate the crisis, including government bailouts, and an evaluation of the current state of the financial sector.
About the Great Recession
The Great Recession is the name given to the global economic downturn which took place between 2007 and 2009 and affected governments and financial institutions around the world. It began as a property and financial crisis in the USA, but soon expanded in scope and spread to Europe. This resulted in large fines for a number of banks and a series of multi-billion-dollar bailouts to rescue the ailing financial institutions, as well as a global increase in public debt.
In this book, you will discover the causes of the Great Recession and learn about its impact on financial institutions and ordinary people around the world. A clear explanation of the role of securitization in the recession, definitions of key terms and a discussion of the effects on banks, governments and citizens will give you everything you need to know about this major economic crisis.
This straightforward and accessible 58-page book is structured as follows:
- Introduction to the Great Recession
- Harmful lending mechanisms
- Speculation and leverage
- How the crisis played out
- From the subprime mortgage crisis to the banking and financial crisis
- From the banking and financial crisis to the worldwide economic crisis
- Impact of the Great Recession
- Government bailouts
- The banks pay up
- Concerns over sovereign debt
- Reflections on economic equity
- The situation today
50MINUTES.COM – Business