Looking back on “The Great Recession” of 2007/2008

There was more than one issue contributing to the economic downfall of “The Great Recession” and these issues had an effect on one another.Yes, people were given mortgages they could not afford, but defaults on mortgages weren’t the only story. The way in which risky mortgages were packaged as complex risky investment “products” was the reason there was a devastation of the entire financial industry which lead to businesses being unable to borrow from financial institutions which were in trouble because of stupid high risk lending and even stupider high risk investment strategies that often bordered on being financial scams.  … Continue reading Looking back on “The Great Recession” of 2007/2008