So how did this financial crisis begin?
On November 20, 2008 in Finance
So how did this financial crisis begin? It all started with the housing boom near around 6 years ago, in particular the sub-prime mortgage sector. There were numerous amounts of individuals who were getting home loans that had no business getting them in the first place. Which debt negotiation program best suits my needs. Plus you throw in the issue that there were unscrupulous mortgage brokers looking to earn a buck off of these unknowing targets. The reprocussions of this situation is now there are record numbers of people are losing their homes. This spells disaster for the economy and has trickled down to hurt many other monetary industries. The credit industry has been tightening up and as a result charging these people outrageous APR’s. Now we are going through gigantic problems in the banking industry too with the bankruptcy of WaMu. In turn this banking crisis negatively affects the Dow Jones.
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