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The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis centered in the United States which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the 1929 Wall Street crash and Great Depression.
The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.
The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis. The crisis led to a severe economic recession , with millions losing their jobs and many businesses going bankrupt .
In 2008, as the economy seemed to be in free-fall, pundits, politicians and the public cast about in search of the ultimate villain, the Wall Street weasel who could assume the blame for massive ...
Depending on who you talk to, America might be in the midst of a Wall Street crisis, Main Street crisis, credit crisis, subprime mortgage crisis, or some other dire-sounding crisis. But how many ...
UBS—the final bank prosecuted for its role in the 2008 global financial crisis—is paying $1.4 billion to stop the case going to trial. Chloe Taylor. August 15, 2023 at 8:31 AM.
Much of that money went into dodgy mortgages to buy overvalued houses, and the financial crisis was the result." [48] In May 2008, NPR explained in their Peabody Award winning program "The Giant Pool of Money" that a vast inflow of savings from developing nations flowed into the mortgage market, driving the U.S. housing bubble. This pool of ...
The World Bank projected global growth will slow in 2023 to its lowest level since the 2008 financial crisis due to higher interest rates, inflation, and more restrictive credit conditions ...