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The Great Recession was an economic downturn that began in 2007 and lasted until mid-2009. It originated from the collapse of the U.S. housing bubble and subprime mortgage crisis, which caused a severe global financial crisis. As housing prices declined and mortgage defaults increased, major financial institutions suffered large losses from their holdings of mortgage-backed securities. This led to a credit crunch and loss of confidence in the financial system. Businesses cut costs and jobs, consumer spendin

Author

Rokaya Musrat Rahman

Language

EN