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Username: LuckyMan

Rating:
Guru Stars

Asked to: Apinya Kamon

Date Created: 09 Aug 2019
Category 28
Tag Financial
Question What Was the Great Recession?
Advice from Guru
Hello LuckyMan,

The Great Recession is a term that represents the sharp decline in economic activity during the late 2000s. This period is considered the most significant downturn since the Great Depression. The term Great Recession applies to both the U.S. recession, officially lasting from December 2007 to June 2009, and the ensuing global recession in 2009. The economic slump began when the U.S. housing market went from boom to bust, and large amounts of mortgage-backed securities (MBS's) and derivatives lost significant value.

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