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This chapter is a detailed examination of the financial crisis that hit the nation starting in 2007 and came into full flower in 2008. The bubble in housing prices, caused by a combination of factors, popped in 2006–2007. The financial system was found to be a house of cards. A deep recession ensued. The policy responses were numerous and strong, but recovery was slow.

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Financial Crisis: Causes and Consequences

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  • 发表日期：

    2026年

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  • John F. McDonald

摘要

This chapter is a detailed examination of the financial crisis that hit the nation starting in 2007 and came into full flower in 2008. The bubble in housing prices, caused by a combination of factors, popped in 2006–2007. The financial system was found to be a house of cards. A deep recession ensued. The policy responses were numerous and strong, but recovery was slow.