Story behind the 2008 2009 Economic Recession
Ever thought how the world was submerged in the ocean of crisis during the great recession in 2008?
The 2008 financial crisis was the worst economic disaster since the Great Depression of 1929.
Many legislators blame Fannie and Freddie for the entire crisis but it is Banking institution’s and credit rating agencies greed to make more money that resulted this crisis.
Huge banking institutions like Lehman Brothers, Merrill Lynch, Freddie Mac, Fannie Mae took a severe hit and came to a verge of bankruptcy during this period. And can you believe if we say that it is the housing loan market or mortgages that caused the entire wreck.
It resulted in losses of 5 trillion dollars, left 6 million jobless and 5 million homeless. Know what led to the 2008 economic crisis and how some people earned millions by betting against the odds.
Listen to the podcast to know the actual story and events behind the Great Recession. We have gathered this information from various sources and simplified it so that it is easily understandable.
Click here to know the complete list of institutions that took a hit and failed to prevent the crisis.
Click here to know more on the crisis