Add your Article
- Arts
- WOMENS CRAFT CENTER
- Taj Mahal - The loving Beauty of the World
- Abu Dhabi Pottery-An Art with hand
- Entertainment
- BOAT RACING IN ABUDHABI
- Rollerblading in Abu Dhabi
- The Abu Dhabi National Exhibitions Company
- Lifestyle
- Kerala Gods Own Country
- Tulip Inn Al Rahba Abu Dhabi
- Life Style – Middle East Furniture Companies
- Sports
- ADCC (Abu Dhabi Combat Club) Submission Wrestling World Championship
- GOLF IN ABUDHABI
- Water Sports in Abu Dhabi
- Technology
- World's tallest building burj dubai
- Discover Cheaper Calls to the UAE
- Abu Dhabi Ship Building
Global financial crisis
By Cheryl Published: 07/18/2009
The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems.
On the one hand many people are concerned that those responsible for the financial problems are the ones being bailed out, while on the other hand, a global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. The problem could have been avoided, if ideologues supporting the current economics models weren’t so vocal, influential and inconsiderate of others’ viewpoints and concerns.
The global financial crisis of 2008–2009 began in July 2007 when a loss of confidence by investors in the value of securitized mortgages in the United States resulted in a liquidity crisis that prompted a substantial injection of capital into financial markets by the United States Federal Reserve, Bank of England and the European Central Bank.The TED spread, an indicator of perceived credit risk in the general economy, spiked up in July 2007, remained volatile for a year, then spiked even higher in September 2008,[4] reaching a record 4.65% on October 10, 2008. In September 2008, the crisis deepened, as stock markets worldwide crashed and entered a period of high volatility, and a considerable number of banks, mortgage lenders and insurance companies failed in the following weeks.
Powered by Select Software Systems