how did economic crisis began in usa in 60 words
Answers
Answer: The economic crisis in US started in the home mortgage market, mainly the market called 'subprime' mortgage and is now spreading beyond sub primes to prime mortgages, corporate junk bonds and other forms of debt. The crisis led to a sharp reduction in the bank lending, thus causing a severe recession in the US economy.
Explanation:
Answer:
There are various reasons.
Explanation:
There are many reasons behind the economic crises. The stock market is one of the reason. It occurred due to the rejection of the bank bailout bill from congress. It was the biggest drop down in history.
It led to another reason for the downfall and that was depression. People became out of their senses and got into depression due to the losses that had they faced.
Another reason was the deregulation of the financial industry. It happened when the government lost control over the industry and everything got out of the hand.