In October 2008 the Stock Market Crashed , the Effects Were Tremendous the U

The stock flop The stock crash of 2008

In October 2008 the stock market Wanted to “ turn the bull loose” This crashed, the effects were meant that he wanted to give large calamitous. The U.S is still liberties to Wall Street and to big recovering from them today. Many banks. Regan’s successor William businesses went bankrupt and many Clinton then began people lost their jobs and homes. His own deregulation of the banking

The stock market crash of 2008 will industry, in 1999 his administration be an event that will go down in passed a act that cut through the history. many restrictions that were imposed

on the banks and let them have

CAUSE many freedoms that they were

denied them before. In the 2000’s The cause of the economic the big banks began to give out catastrophe had it’s roots in the home loins with no fixed interest rate 1980’s when the to family’s that had before now not Government at that period began to been handed out lones with a fluid take less interest in governing Wall interest rate which meant it could Street and in addition keep rising so that the people who began to spend less money on the had taken them out could not pay government all together and cut back the loin any more. taxes. This loaning led to a housing bubble The president at the time Ronald that had a corrupting effect on the Regan then made a speech stock market whose investments in declaring that he The stock flop The stock crash of 2008 real estate were effected. Soon after economies. Following Bear stains this, many people were in financial another Wall Street firm Merrill Lynch trouble with their home loins. By the floundered to and had to be bought mid 2000s, the financial markets by Bank of America, a deal financed were in the decline though they had by taxpayers. Soon other Wall Street not yet crashed at that time and companies including Leman brothers increasingly people could not afford and Goldman Sachs began to to pay the loins that were handed out crumble causing vast repercussions to them by the big banks. Soon the in other nations while the economy economy was sagging and the continued to sink. “I think the banks amount of workers unemployed rose got greedy,” said Elizabeth dramatically, setting the stage for the hodgkinson a writer and the author’s final crash. mom

In October 2008 the stock market EFFECT crash began when investment firm Because of the flagging economy,

Bear stains began to collapse. government officials in Washington

However, it was just the beginning of proposed a Bailout plan of the a terrific plummet that would be banking industry. The plan proposed devastating for the U.S and world by the secretary of the treasury at The stock flop The stock crash of 2008 the time Henry Paulson was to cost been severed continued to go

700 billion dollars in taxpayer money bankrupt despite the banks promise and was to be passed in congress. that they would supply small

Paulson’s proposal was controversial concerns with new loins. In spite of and many congress people argued this, it seemed that the economy was for or against the bailout plan. Public generally stabilized though many opinion was also divided. Some effects of the financial smash thought that that bailout was a remained. necessary measure to stop the crumpling economy many others Conclusion however were of the opinion that the The stock market crash was a banks were undeserving of the stupendous occurrence. it’s effects bailout money. Despite the are still present almost three years controversy about the bank bailout, it after the financial calamity. Even passed in congress and the money now, the repercussions of the was dished out to the banks. Many disaster can still be felt by many who people were outraged about how are in danger of losing their job and their tax money was given including home. some congress people. Others thought that the bailout would be unsuccessful. Despite the bailout many small businesses who were furnished with loins that had since The stock flop The stock crash of 2008 The stock flop The stock crash of 2008