20 questions about The 2008 Financial Crisis

1. What year did the 2008 Financial Crisis begin?

2008

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

2. What event was a cause of the Financial Crisis of 2008?

The subprime mortgage crisis

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

3. Who was President of the United States when the crisis began?

George W. Bush

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

4. Did Global economic output go up or down as a result of the crisis?

Down

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

5. Name two bankruptcies as a result of the crisis.

Lehman Brothers and Washington Mutual

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

6. Was the auto industry hit hard by the crisis?

Yes

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

7. How much money did the US government bail out AIG with?

$SC 182 billion

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

8. What caused a dramatic reduction in liquidity in global credit markets?

High levels of subprime mortgage defaults

- Source:https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

9. What financial instrument did banks use to place risky mortgages on their balance sheets?

Collateralized debt obligations

- Source:https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

10. Was the crisis caused by a single event?

No

- Source:https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

11. Does the crisis have causes that are specific to countries such as the US or Greece?

Yes

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

12. What country had the highest unemployment rate during the crisis?

Spain

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

13. What year did the US Federal Reserve Lower interest rates to near 0% to stimulate the economy?

2008

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

14. What actions were taken to save banks that were in danger of collapse?

Bank bailout programs

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

15. Was the Euro affected by the 2008 financial crisis?

Yes

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

16. Was the 2008 financial crisis avoided?

No

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

17. What percentage of US subprime mortgages became delinquent during the crisis?

22%

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

18. Who would be most impacted by the resulting job losses?

Low-income communities

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

19. What type of regulations were passed as a result of the crisis?

Dodd–Frank Wall Street Reform and Consumer Protection Act

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

20. Who announced the $700 billion Troubled Asset Relief Program (TARP)?

U.S. Treasury Secretary Henry Paulson

- Source: https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

20 questions about The 2008 Financial Crisis

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