The global financial crisis of 2007-2009 was the most severe since the Great Depression. For extra credit, you will discuss/describe the Financial Crisis of 2008 here in the United States. The paper should emphasize its causes, the participants, the affects, the aftermath and the resolution.
Points/items to consider and include: • Elements of business cycle analysis. • Trends in the U.S. housing markets, before the crisis and to date. • The U.S. banking system: institutional details and recent developments. • The Central Bank as a lender of last resort and other banking/government policies • Outcome/aftermath How the above points contributed and affected the financial crisis.
