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what was the main cause of the recession that began in 2007

The Great Recession was a period between December 2007 and June 2009 that saw the 2008 financial crisis, some of the worst unemployment rates, GDP, and economic disasters since World War II. For such reasons, it is generally agreed that the Great Recession worsened inequality of wealth in the United States, which had already been significant. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox.


Unemployment numbers took years to stabilize even with employers beginning to add more jobs in 2009 and 2010. History at your fingertips What was the main cause of the recession that began in 2007?

The Great Recession was brought on by several factors, mostly related to the faux paws of the housing and banking industries - the subsequent effects of which devastated U.S. and European economies.While there were many contributing factors to the Great Recession, much of it had to do with the "too big to fail" mentality focused on large banking and housing institutions, as well as the growing housing boom during the mid-2000s.
Great Recession, economic recession that was precipitated in the United States by the financial crisis of 2007–08 and quickly spread to other countries. Following in Stearns' unfortunate footsteps, Lehman Brothers declared bankruptcy just a few months later, which was Additionally, the Federal Deposit Insurance Corporation, or FDIC, took control of Washington Mutual Rapid increases in the money supply. c. Collapse of high …

At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression.

By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica.Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. The Great Recession in the United States was a severe financial crisis combined with a deep recession.

The United States is … Get exclusive access to content from our 1768 First Edition with your subscription. To combat the drastic dip in investment and loans, the Fed Additionally, President George W. Bush introduced the But, the package couldn't save the drowning economy, further progressing the Great Recession.Another major facet of the Great Recession was the "too big to fail" modus operandi regarding the banking system.When major investment banking player Bear Stearns called it quits after losing big on its investments in subprime mortgages, as well as assets obtained through fellow banking giant JPMorgan Chase Still, the Great Recession was considered to be over in 2009.In an attempt to undo possibly harmful legislation like the 1933 However, President Trump has recently made moves to alter the act.The recession was officially considered over in 2009, but the economy took years to make any sort of appreciable recovery and many of its effects are still being felt. What was the main cause of the recession that began in 2007?

The United States economy was hit by the worst financial crisis since the Great Depression. Once the recession began, various responses were attempted with different degrees of success. Major causes of the initial subprime mortgage crisis and following recession include: ... U.S. government housing policies; and limited regulation of non-depository financial institutions.

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