AKA –>
“GLOBAL FINANCIAL CRISIS”
“2008 FINANCIAL CRISIS”
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(the financial crisis of 2007–2008 is considered by many ‘economist’s to have been the worst financial crisis since the “great depression” of the ‘1930s’)
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(it began in ‘2007’ with a crisis in the ‘subprime mortgage market’ in the US, and developed into a ‘full-blown international banking crisis’ with the federal takeover of ‘fannie mae’ + ‘freddie mac’ and the collapse of most major investment banks, including the bankruptcy of ‘lehman brothers’ on ’15 september 2008′)
(‘excessive risk-taking’ by ‘banks’ such as ‘lehman brothers’ helped to magnify the ‘financial impact’ globally)
(‘massive bail-outs’ of ‘financial institutions’ and other palliative monetary + fiscal policies were employed to prevent a possible collapse of the ‘world financial system’)
(the crisis was nonetheless followed by a global economic downturn, the ‘great recession’)
(the ‘european debt crisis’ (a crisis in the banking system of the european countries using the ‘euro’) followed later)
(the “dodd–frank act” was enacted in the US in the aftermath of the crisis to “promote the financial stability of the united states”)
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(the “basel III” capital + liquidity standards were adopted by countries around the world)
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👈👈👈☜*THE HISTORY OF ‘BANKING’* ☞ 👉👉👉
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💕💝💖💓🖤💙🖤💙🖤💙🖤❤️💚💛🧡❣️💞💔💘❣️🧡💛💚❤️🖤💜🖤💙🖤💙🖤💗💖💝💘
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*🌈✨ *TABLE OF CONTENTS* ✨🌷*
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🔥🔥🔥🔥🔥🔥*we won the war* 🔥🔥🔥🔥🔥🔥