ECON summary


check attached fileLecture 19
The Financial Crisis of 2007 and 2008
The assignment for the day is a two-page report about the financial crisis: causes, consequences,
lessons learned, etc. Below is an outline to get you started.
Recession of 2007-2009:
Prompted by global financial crisis*
Worst economic downturn since Great Depression of 1930s (recent pandemic excluded)
GDP fell sharply and unemployment rate rose above 10 percent in the U.S.
*Causes of global financial crisis
1. Deregulation of financial industry and uncontrolled financial innovation
Repeal of Glass-Steagall Act
Excessive risk taking by financial institutions (moral hazard problem)
2. Misrepresentation of credit risk by rating agencies
Conflicts of interest faced by rating agencies
3. Burst of housing bubble in 2007
Mortgage default crisis
Breakdown of securitization chain
For resources, start by reading carefully pages 678 through 681 in the textbook.
Then, watch the documentary “Inside Job” at the link below.

Inside Job

See also the financial crisis video here.

You may use additional resources available on the web, as long as they are properly cited.

Purchase answer to see full

We offer the bestcustom writing paper services. We have done this question before, we can also do it for you.

Why Choose Us

  • 100% non-plagiarized Papers
  • 24/7 /365 Service Available
  • Affordable Prices
  • Any Paper, Urgency, and Subject
  • Will complete your papers in 6 hours
  • On-time Delivery
  • Money-back and Privacy guarantees
  • Unlimited Amendments upon request
  • Satisfaction guarantee

How it Works

  • Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
  • Fill in your paper’s requirements in the "PAPER DETAILS" section.
  • Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
  • Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
  • From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.