Effects Of The Financial Crisis Of 2007-2008

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Financial crisis of 2007-2008 is widely considered to be the worst financial crisis since the Great Depression of 1930s. The origin of this big storm dated back to the high home prices of the United States. After America’s entire investment banking system was attacked, many industries such as auto industry also went bankrupt. Unfortunately, it spread quickly to the whole world, causing huge damages to the global economy. Therefore, my study will focus on the effects of the financial crisis of 2007-2008. Not only the effects on advanced and developing countries, but also the effects that can still be felt today. When it comes to global financing, one of the most important things is to understand and learn to analyze different financial incidents. This ability can assist people who are interested in finance or studying finance to comprehend current economic situation more deeply and more detailedness. Financial crisis of 2007-2008 is a famous incident, and also a good example to illustrate some troublesome problems that still exists today. Its effects on the global economy can be very specific to today’s economic situations. Some countries suffered a lot while some countries survived from the big storm. As a result, interpreting the effects of financial crisis of 2007-2008 is meaningful and educational to financial major learners and amateurs.
Background/Review of the literature “The 2007-2008 crisis started off in August 2007 as a subprime mortgage crisis
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