Answer to Question #258345 in Finance for Danu

Question #258345

Using examples point out the risk that led to the global financial crisis of 2008



and suggest how we can prevent recurrence of the same in the future (10marks)


1
Expert's answer
2021-10-31T18:37:24-0400

The stock market experienced a crash in 2008. GDP fell by 0.3%. Though the crisis had started as earlier as October 2006. The order for durable goods and a decline for house production were experienced since 2005.

To counter the recession the Congress passed Troubled Assets Relief Program which allowed the U.S Treasury to lent $115 million to banks. The purpose was to prevent national and global economic crisis


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