Oh, it’s time. We need to talk about the most important financial time of the past three decades. In America, the financial market sent shockwaves everywhere when subprime (also known as CDOs) were passed like hot potatoes amongst the biggest banks in the world. When the CDO’s value went to s***, so did the companies. Bear Stearns collapsed on a biblical scale, and Lehman Bros followed suit, among so many others. CDOS slammed the housing market and the value of homes deteriorated. Americans had become homeless, lost their jobs, 401ks, and more — making it the stain of the 00s. So, let’s do some talking first about vocabulary.
bail them out credit crunch default on your mortgage file for bankruptcy recession regulator stimulate the economy
- A period of time when banks are not willing to lend much money is called a ___________.
- When you fail to pay back money you borrowed to buy a house or apartment you ______________.
- A _____________ occurs when demand to buy accommodation and related prices are high.
- A _____________’s job is to make sure that companies or organizations follow systems and rules.
- If you have to officially state that you do not have enough money to pay your debts, you _____________.
- When a company is in a bad financial situation, another company might _____________.
- An economic decline over a period of several months or more is a _____________.
- When it is in decline, governments usually try to _____________ so it improved.