2008 Financial Crisis by Chan Yan Zhe

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s
1. It began in 2007 with a crisis in the subprime mortgage market in the USA, and developed into a full-blown international banking crisis in 2008. Massive bail-outs of financial institutions and other palliative monetary and fiscal policies were employed to prevent a possible collapse of the world's financial system
USA Issues in economy affects the rest of the countries
1. When America sneezes , the rest of the world catches a cold
  1. Worst financial banking crisis in 2008
High mortgage approval rates led to a large pool of homebuyers, which drove up housing prices. This appreciation in value led large numbers of homeowners (subprime or not) to borrow against their homes as an apparent windfall. This "bubble" would be burst by a rising Single-Family Residential Mortgages Delinquency Rate (beginning in August, 2006 and peaking in the first quarter
The crisis was nonetheless followed by a global economic downturn, the Great Recession. The Eurozone crisis, a crisis in the banking system of the European countries using the euro, followed later.
There is an immediate falling price for homes
Decline in trillions of US Dollars

Resource summary

	Created by CHAN YAN ZHE almost 8 years ago