Causes And Cost Consequences Of Financial Crisis In The USA 2007-2009

Both American government and citizens suffered from the last financial crisis during 2007-2009, and, according to the Department of the Treasury, 8.8 million jobs were lost and $19.20 trillion was lost household wealth. Although American government has attempted to develop the financial system, it has been impacting and costing them lots of money.

REFERENCES

[1] Barry, F. (2013). Federal Reserve Bank of Dallas Staff Papers: How Bad Was It. Retrieved from http://www.jdsupra.com/legalnews/federal-reserve-bank-of-dallas-staff-pa-78558/

[2] David, G. (2009). Worst year for jobs since'45. Retrieved from http://money.cnn.com/2009/01/09/news/economy/jobs_december/

[3] David, L, Tyler. A & Harvey R. (2013). Assessing the Costs and Consequences of the 2007�09 Retrieved from http://www.dallasfed.org/research/eclett/2013/el1307.cfm

[4] Dean, B. (2008) The housing bubble and the financial crisis. (2009). Retrieved from http://www.paecon.net/PAEReview/issue46/Baker46.pdf

[5] Dwyer and Tkac. (2009). DIANE Publishing, Financial Crisis of 2008 in Fixed Income Markets Issue Guide: The United States and the Global Financial (2009). Retrieved from http://www.cfr.org/world/issue-guide-united-states-global-financial-crisis/p19524

[6] Laura, E. K. (2013). What Is Shadow Banking. Retrieved from http://www.imf.org/external/pubs/ft/fandd/2013/06/basics.htm

[7] The Financial Crisis Response In Charts - U.S. Department of (2012). Retrieved from http://www.treasury.gov/resource-center/data-chart-center/Documents/20120413_FinancialCrisisResponse.pdf

[8] What is financial crisis? definition and meaning. (n.d.). Retrieved from http://www.businessdictionary.com/definition/financial-crisis.html