What went wrong in the 2008 2009 financial crisis?

It began with the housing market bubble, created by an overwhelming load of mortgage-backed securities that bundled high-risk loans. Reckless lending led to unprecedented numbers of loans in default; bundled together, the losses led many financial institutions to fail and require a governmental bailout.

What happened to the economy in 2009?

Real gross domestic product (GDP) fell 4.3 percent from its peak in 2007Q4 to its trough in 2009Q2, the largest decline in the postwar era (based on data as of October 2013). The unemployment rate, which was 5 percent in December 2007, rose to 9.5 percent in June 2009, and peaked at 10 percent in October 2009.

What caused the 2008 housing crisis?

The stock market and housing crash of 2008 had its origins in the unprecedented growth of the subprime mortgage market beginning in 1999. U.S. government-sponsored mortgage lenders Fannie Mae and Freddie Mac made home loans accessible to borrowers who had low credit scores and a higher risk of defaulting on loans.

What factors caused the global financial crisis in 2008 09?

Failure of financial firms, panic in financial markets Financial stresses peaked following the failure of the US financial firm Lehman Brothers in September 2008. Together with the failure or near failure of a range of other financial firms around that time, this triggered a panic in financial markets globally.

What was some of the causes of the 2008-2009 economic crisis?

In a sentence, causes of the 2008-2009 economic crisis include subprime mortgages gone bad that were packaged into risky securities gone bad compounded by lax regulatory oversight, a credit crunch (i.e., reduced lending by financial institutions), and lack of consumer confidence.

What are some of the risk factors for gout?

Using certain medications, such as diuretics (water pills). Drinking alcohol. The risk of gout is greater as alcohol intake goes up. Eating or drinking food and drinks high in fructose (a type of sugar). Having a diet high in purines, an organic compound found in some foods, which the body breaks down into uric acid.

When did the global financial crisis start in 2009?

By May 9, financial stocks had rallied more than 150% in just over two months. On June 22 the World Bank projected that the global production for 2009 would fall by 2.9%, the first decline since the second world war. ^ “Denmark agrees on 13.4-bln-euro line of credit to banks: govt”. France 24. 2009. Retrieved 2009-01-19.

Why do people get gout from too much alcohol?

People having a habit of taking too much alcohol have a significant risk in getting affected by gout. The intake of alcohol increases the production of uric acid in your body and also stops the elimination of the uric acid in the kidneys.