The financial crisis of 2007–2009

Authored by: Gary Gorton , Andrew Metrick

Routledge Handbook of Major Events in Economic History

Print publication date:  January  2013
Online publication date:  February  2013

Print ISBN: 9780415677035
eBook ISBN: 9780203067871
Adobe ISBN: 9781135080808


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The financial crisis of 2007–2009 was the event which was not supposed to happen, but it did. Few economists thought that the U.S. economy would ever experience a systemic financial crisis again. Or that it would turn into a global crisis. But, the crisis, which began in August of 2007, developed into the worst crisis in the U.S. since the Great Depression. It has been unprecedented in its depth and scope.

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