Explain (in detail) what led to the 2007-2008 financial crisis and its effect on housing insecurity. ?
Im studying and need help with a History question to help me learn.
In 2007 the financial services firm Lehman Brothers declared chapter 11 bankruptcy and the federal government was forced to bailout other financial services corporations to the tune of billions of dollars. This, in part, led to what is now known as The Great Recession. Explain (in detail) what led to the 2007-2008 financial crisis and its effect on housing insecurity.
The grading scheme is as follows:
- Papers that do not address the bulleted themes will lose 5 points for each unaddressed theme
- Papers that do not cite any of the bulleted references will lose a total of ten points
- Papers that do not meet the page length requirement will lose a total of five points
The essay should contain the following
- The subprime bubble
- Decline of American manufacturing
- Influence of money on politics
- The collapse of Lehman Brothers
- The financial bailout References that must included:
· The Unwinding(book, I have upload it)
· Inequality for all (Available on Netflix)
· Inside Job (Available on Amazon Prime/CBS All Access)
· Evicted(book, need to search for it)