During 2002 through 2007 mortgage compainies were selling sub-prime mortages, to people who could not afford it in the long run
By adent12
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During 2002 through 2007 companies were selling sub prime motgages to people who could not aford it
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As the housing market get to big filled with toxic mortages the amount being trillions of dollars in bad mortgages, fear spread throughout massive firms
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Bernake and Paulson begin to bailout some of the biggest banks of wall street
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On thursday September 18, 2008 th U.S congress was informed that the economy was in grave danger by the federals reserves chairman
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Declares stocks are going down a and chairmen Ben Bernake states that this has to be contained beofore it spears and ameica has a crisis on hand
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Bernake is a former economics professor from princton, to stable the stocks he he engineered a shotgun marriage between bear sterns and the commercial bank JPMorgan
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in 2009 the goverment say no to bailouts
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in 24 hours the stock market crashed and credit markets around the worldfroze
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Today americans are still loosing their hard earned money because of the bailouts taxes are high and the middle class peaople have to pay the price
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