1 jan 2008 ano - The Economic Crisis of 2008

Descrição:

The economic crisis of 2008 is a complex tragedy that involves many people, groups and systems. In layman's terms the economic crisis was caused when mortgages were given to people who were less economically responsible than the normal homebuyer. This was okay initially but eventually enough people couldn't pay their mortgage, meaning people who invested in those mortgages tried to sell them off but nobody would buy them causing the economy to freeze up. The economic crisis of 2008 was caused by a lack of regulation in the stock/housing market which eventually led to a catastrophe not seen since the great depression. The economic crisis was caused by a lack of regulation and laissez faire theory, because a lack of government was the cause many people suggest more government was the answer. So while the economic crisis was a “right wing” event it paved the way for more left wing theory to gain traction.