We begin by how the events unfolded which shattered the economy. Let us understand their roles in the crises. George Walker Bush left the White House and Americans welcomed Barack Obama. The crash occurred during the presidential transition.
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How to identify and avoid stock bubble?.Four books based on 2008 financial crisis.Did anyone make profits out of this fiasco?.The Credit Rating Agencies and the insurance companies.
The banks, CDOs, and the risk associated with loans. The BSE Midcap closed 8.38 per cent lower and BSE Smallcap Index ended 7.66 percent down.īut what led to the world economy collapsing this badly? What triggered this? Let’s find that out! The National Stock Exchange’s Nifty ended at 2,557.25, down 13.11 per cent or 386 points. It was a fall of 1070 points in a single day. On 24 October 2008, the BSE Sensex fell to 8701. On 3 March 2008, the Sensex fell by 900 points and settled at 16,677. The Indian stock market saw a fall of over 50% in the year 2008-09. And what happens when the world’s strongest economy collapses? By October 2009, unemployment went up to 10%.Įconomists failed to predict the crisis. The stock market wiped out almost US $8 trillion in United States alone from late 2007 to 2009. It resulted in a massive stock market crash. The crash made several families go homeless. It is also referred to as the global financial crisis (GFC). It caused the biggest recession since the great depression of 1930. 
The 2008 financial crisis is one of the worst economic disasters ever The economy went into recession.
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