Saturday, October 15, 2011

The economic downturn: The scale of the loss

"The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929."

The reason?

"A lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place."  [Al Jazeera, 11/15/11] [Click on the title above for a link to the source.]

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