Recession (dec 1, 2007 – jun 1, 2009)
Description:
The subprime mortgage crisis led to the collapse of the United States housing bubble. Falling housing-related assets contributed to a global financial crisis, even as oil and food prices soared. The crisis led to the failure or collapse of many of the United States' largest financial institutions, as well as a crisis in the automobile industry.
Added to timeline:
Recession and depression timeline
Date:
