What good came out of the 2008 recession?

What good came out of the 2008 recession?

The Dodd-Frank Wall Street Reform and the Consumer Protection Act was passed to help prevent a similar financial crisis. The Consumer Financial Protection Bureau and Financial Stability Oversight Council were formed as watchdogs over the banking industry and Wall Street.

What were the three most important causes of the 2008 financial crisis?

Causes of the 2008 Global Financial Crisis

  • Deregulation.
  • Securitization.
  • The Growth of Subprime Mortgages.
  • Raised Rates on Subprime Borrowers.
  • The Bottom Line.

What caused the 2008 recession for dummies?

The Great Recession, one of the worst economic declines in US history, officially lasted from December 2007 to June 2009. The collapse of the housing market — fueled by low interest rates, easy credit, insufficient regulation, and toxic subprime mortgages — led to the economic crisis.

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What really happened in the 2008 financial crisis?

The crisis rapidly spread into a global economic shock, resulting in several bank failures. Economies worldwide slowed during this period since credit tightened and international trade declined. Housing markets suffered and unemployment soared, resulting in evictions and foreclosures. Several businesses failed.

What happened to literature during the financial crisis of 2008?

The literature is growing and changing by the month; what follows is a snapshot of some notable books about the financial crisis of 2008. The crisis of 2008 was not a single event in one place, but occurred across space and time. Thus, any narrative is bound to get complicated.

What are the best books about the financial crash of 2008?

10 Books About the 2008 Financial Crash You Need to Read 1 Freefall by Joseph Stiglitz (2010) 2 The Big Short by Michael Lewis (2010) 3 Bailout by Neil Barofsky (2012) 4 Diary of a Very Bad Year (2010)

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What can we learn from eight centuries of Financial Folly?

This Time Is Different: Eight Centuries of Financial Folly by economists Reinhart and Rogoff, puts the 2008 crisis in perspective, looking at 800 years of economic ups and downs worldwide and what the patterns of hyperinflation and default can tell us about national markets.

What are some of the best books about the Great Depression?

A character-driven debut that memorably depicts the crisis, Union Atlantic examines the power dynamics and historical blindness that made it possible. A fantastic novel of bleak economic prospects and marital strife, comedy of errors The Financial Lives of the Poets is Jess Walter’s prescient drama of foreclosure and the coming financial doom.