Home » Here's What Caused the Great Recession | History financial crisis 2008 explained

Here's What Caused the Great Recession | History financial crisis 2008 explained

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Discover the confluence of events that prompted the Great Recession in America and its main culprit: the subprime mortgage housing crisis. Learn how the Great …

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Here's What Caused the Great Recession | History

Here's What Caused the Great Recession | History

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Here's What Caused the Great Recession | History
financial crisis 2008 explained
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40 comments

Ziot 28/09/2021 - 6:04 AM

You conveniently forgot to mention that the government FORCED banks to give out subprime mortages

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Ziot 28/09/2021 - 6:04 AM

Once again government intervention in the economy causes disaster

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supermetallicman 28/09/2021 - 6:04 AM

I remember I was a kid in elementary school hearing about this, crazy how a lot of people just lost their homes like that.

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ALI SUROOR 28/09/2021 - 6:04 AM

How can we generate (intellectual energy in light of the disruption of meditation stations and serious intellectual participation?)

How then will definitive, non-temporary solutions be reached, unless people are deeply familiar with the literary, cultural, historical, educational and indicative streams?
Undergraduates will not be able to find sustainable solutions unless they are definitely familiar with all the previous literature
if?!!!
When the cultural mission is evaded, employees in all global organizations should not demand participation in economic seminars or endeavors to seek sources of solutions.
Because employees may be confined to the export sector, for example, or real estate, or even trade, but their opinions are not based on their suggestions because they are not trustworthy because there are no books for them or cultural participations mentioned under the roof of any local, regional or international forum.
If we turn towards a reassessment of the truth, we will arrive at the only way:
Are you going to take a sailor who is an expert in sea affairs and has been working for years in travel, fishing and ports?
Or will you take a marine biologist with you?
So you do not need a university degree when traveling at sea, but you need experience exclusively.
This is not a call to exclude participants who are unable to bring about a new philosophy in the world of modernity and in the current economic crisis"
But you should not bring an agricultural engineer and ask him to work in the pharmaceutical sector, for example
And you shouldn't ask an economist
How to treat irritable bowel diseases, for example
Each according to the specialty
Only then will the steps of trade return to the path of financial recovery.
No thinker will offer any solution for free
Unless they sit together to find real outlets
The world of the web
Not safe for all writers, thinkers and intellectuals
That is an established fact.

ALI SUROOR

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Centurio 28/09/2021 - 6:04 AM

Is this why my parents argued a lot during this time and are completely fine now? Lol

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Davey 28/09/2021 - 6:04 AM

America had it easy compared to other parts of the world. In Europe this great recession was followed by the eurozone crisis which lasted for years.
I already had to learn about this recession in my history class back in 2011.

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William Powell 28/09/2021 - 6:04 AM

Left a lot out

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se7ensnakes 28/09/2021 - 6:04 AM

Starting on 2006 to 2014 10 million

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NotAKnight 28/09/2021 - 6:04 AM

Parents divorced during this time. Never knew why until i learned of the recession

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bhavanshu saini 28/09/2021 - 6:04 AM

It is completely wrong video. Sorry. Where are investment banks

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Epic Master 28/09/2021 - 6:04 AM

Thank you for the explanation

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Michael H 28/09/2021 - 6:04 AM

This is a result of deregulation.

I knew a real estate agent who was doing really really well for two years before the crash. She sold real estate left and right and made a ton of money. She said people were idiots buying far more than they could afford with a ARM loan.

She says she feels no guilt. She said these were adults who made their own decisions. If she didn't sell the home, then someone else would of.

She told me everyone got in the business of selling homes back then. Getting a mortgage from the bank was extremely easy and very few were denied a loan application. Pretty much if you had a job for a year and a credit score above 540, you shouldn't have a problem getting an ARM loan. FHA was even easier.

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Josue Gomez 28/09/2021 - 6:04 AM

I remember during these times the fuel prices were nearing $5/gal

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Ritik Gulabrani 28/09/2021 - 6:04 AM

This is how bitcoin was created !!

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Funny Videos - Funny Out Loud 28/09/2021 - 6:04 AM

During covid pandemic, BLM movement, Trump-driven and other agendas there are more people jobless now and even more businesses close… but no one cares anymore. WHY you ask? Last year 3 trillion was injected in the market and the majority of it ended up in the stocks, yet people are hungry. if you think that 2008 was bad, brace for 2021/22

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Funny Videos - Funny Out Loud 28/09/2021 - 6:04 AM

no "why?" question was answered in this video:

Nobody talked about futures
Nobody talked about oversaturation

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Riya Bagai 28/09/2021 - 6:04 AM

Amazing video, thank you

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Brandon 28/09/2021 - 6:04 AM

Oversimplified explanation. Doesn't even mention how banks and lenders sold the toxic debt to other banks and labeled it as AAA. There was a lot of fraud but nobody cared because lenders made commission on each loan and once they soldt the debt they didn't give 2 $hit$.
This is like an explanation you would see on Sesame Street. Watered down history channel explanation…..

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New Imperials 28/09/2021 - 6:04 AM

Gen X caused the Great Recession. Gen Xers were high spenders during the housing bubble. Houses went from small ranch homes to large cookie-cutter McMansions.. all in just under two decades. I see consumerism as a waste. I also don’t buy things I don’t need.

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Gian Gwen Louied Arligue 28/09/2021 - 6:04 AM

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Daniel Jbaily 28/09/2021 - 6:04 AM

It'll happen again hope not but it will

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Angel Yala 28/09/2021 - 6:04 AM

Can someone explain the Recission to me? I was born around 2004 so I don’t much about it

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Masinissa Ibrahimi 28/09/2021 - 6:04 AM

So…was this due to deregulation?

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Ҝ 乂 R T T 28/09/2021 - 6:04 AM

I was playing call of duty the whole time. Didn't even know there was a recession going on lol

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AnGryZaK 28/09/2021 - 6:04 AM

So pretty much it was because banks are very reliant on government bailouts and can take risky business practices bc the government will always be there to bail them out? Maybe government shouldnt be so involved with people's lives

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The Last Defender of Camelot 28/09/2021 - 6:04 AM

you shouldn't be borrowing money in the first place. it kinda bothers me when people own things that they shouldn't be owning – pretending to be rich. and then they get stuck in a never ending debt trap. in order to continue living, you gotta borrow even more money. imagine applying this principle to World of Warcraft's economy or any other mmorpg. it would be so ridiculous to see players borrow money just to buy the best armor best weapon in a video game. it would cause a warped economy.

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Seb H 28/09/2021 - 6:04 AM

I’m here for when this happens again after Christmas

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RedDogge • 700 years ago 28/09/2021 - 6:04 AM

The bank employee who loaned 100k to a broke guy: Oopsie

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Ownage Zizou 28/09/2021 - 6:04 AM

So who signed the bill that makes it easy for banks to give out loans?

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Andrew L 28/09/2021 - 6:04 AM

Left out alot of details in the video.

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Matt Perry 28/09/2021 - 6:04 AM

POV: you’re watching this in 2020 when there’s an even bigger recession going on

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Aryan 28/09/2021 - 6:04 AM

AMAZING VIDEO! REALLY WELL DONE

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The Halloween Warrior 28/09/2021 - 6:04 AM

Some people blame Obama for this when all this started in George W. Bush's time, thanks to Bush is why we had this recession and the country was in huge debt. More reasons why the Electoral College should be abolished, which helped Bush win on 2 occasions, Al Gore should've been president in 2000 and John Kerry should've avoided a Bush 2nd term in 2004, had Al Gore or John Kerry been president in 2004-2008 the recession would've not have happened.

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Jake Edels 28/09/2021 - 6:04 AM

In 1992 the Federal Government forced Fannie Mae and Freddie Mac to loan to people with ‘bad credit’. Then the government gets to pretend like if they didn’t do anything to save their own problem it would’ve been much worse

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Brick Brick 28/09/2021 - 6:04 AM

Banks actually were forced to give out loans by the government soooo…

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Gallibon 28/09/2021 - 6:04 AM

I remember living during this time. Was a sad time….so is this year.

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Eric Wolf 28/09/2021 - 6:04 AM

They called it the great recession .Why? Under President Carter it was far worse. I know an PhD Economist who said the true unemployment rate then was 22%.. I guess.a catchy phrase works..

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Dave Mack 28/09/2021 - 6:04 AM

No mention of mortgage backed securities or credit default swaps?

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Chief Tokealot 28/09/2021 - 6:04 AM

It’s crazy how I grew up during this time and didn’t even know this happened until now

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hulk smash 28/09/2021 - 6:04 AM

Thanks bro! true G! helped me understand how to do my homework. U r actually pretty good at explaining. Thanks

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