What were the reasons for the global financial crisis of 2007 and why did it burst out?

Asked on 17.11.2018 in All Questions.
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(Top Tutor) Studyfaq Tutor
The financial crisis of 2007 is said to have been the worst financial crisis since the great depression in the 1930’s, and its effects can be still felt today. The crisis started in the United States during the years before the crash in 2007; this was partly due to the US interest rate rising from 1% to 5.35%, which triggered a huge halt in the US housing market. Due to the interest rate hike, many homeowners were not able to keep...
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