The Great Recession Of The United States

1735 Words7 Pages
Stubborn or Stupid? The Great Recession inflicted abundant harm in the U.S. and global economy; 8.7 million jobs vanished (Center on Budget), 9.3 million Americans lost their homes (Kusisto), and the U.S. GDP fell below what the economy was capable to produce (Center on Budget). The financial crisis was unforeseen by millions and few predicted that the market would enter a recession. Due to the impact that the recession had, several studies have been conducted in order to determine what caused the recession and if it could have been prevented. Government intervention played a key role in the crisis by providing the bailout money that saved those “Too Big to Fail” institutions. Due to the amount of money invested in the bailout and the damage that the financial crisis had on the U.S. population, “Too Big to Fail Banks”, and financial regulation are two of the biggest focuses of the presidential candidates. Politicians might assure voters that change will occur, but is it to late for change to be efficient, are the financial institutions making the same mistakes that led to the financial crisis? After the financial crisis, the large financial institutions have become heavily regulated. They do not possess the freedom and cannot take on as much risk as they used to in the past. During the summer, I had exposure to large transactions that were successfully executed and saw how some transactions were declined by the bank. I was able to participate in a sale segment of one of
Open Document