The Government’s Role in the 2008 Economic Downfall

December 7, 2016 Shayan Salesi 15

Introduction In 2007, the biggest economic collapse since the Great Depression of the 1930s occurred as a result of high default rates in the subprime mortgage sector in the US, consequently affecting other parts of the world economy (Temin). After general discourse lasting a couple of weeks, the government bailed out big banks, such as Wells Fargo for 25 billion […]