What are the convergence of issues that led to and caused the subprime financial crisis of 2007-2008

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter12: Money, Banking And The Financial System
Section: Chapter Questions
Problem 16QP
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What are the convergence of issues that led to and caused the subprime financial crisis of 2007-2008

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Financial crisis of 2007-2008, particularly known as mortgage crisis was basically the result of collapsing of US housing market. It threateningly destroyed the financial market at international level which resulted in failure of banks, investments, insurance, savings etc. This was the worst economic recession termed as Great Depression of 2007-2009.

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