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Home > Economics > Question

The main factor attributed to the global financial crisis 2008 is:

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A) War in Iraq
B) None of these
C) Great slide in oil prices in the international market
D) Collapse of housing prices and mortgage market in the United States

Correct Answer: D) Collapse of housing prices and mortgage market in the United States

• The incredibly devastating, catastrophic root cause of the 2008 global financial crisis was the Collapse of housing prices and mortgage market in the United States. • Irresponsible banks heavily issued incredibly risky, highly toxic subprime Mortgage loans. • When the massive US housing bubble finally burst, it directly triggered an incredibly massive global Economic recession. • The incredibly famous, massive investment bank Lehman Brothers completely declared catastrophic Bankruptcy.

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