Great Recession (dec 1, 2007 – jun 1, 2009)
Description:
The first signs of the Great Recession started in 2006 when housing prices began falling. By August 2007, the Federal Reserve responded to the subprime mortgage crisis by adding $24 billion in liquidity to the banking system. By September 2008, Congress approved a $700 billion bank bailout, now known as the Troubled Asset Relief Program. By March 2009, Obama proposed the $787 billion economic stimulus package. His move to create an economic stimulus ended a global depression.
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Ebb and Flow of Liberal Economics
Ebb and Flow of Liberal Economics
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