How did recession start?
I was wondering how this recession actuall started. I dont understand that a single company (Lehman brothers) can influence the global economy. According to the reports this is the worst economic crisis in 60 years. Can a single company change the world economics so much. If America is having economic problem then how can India effect. And how does it affect the rest of the world. If a few companies have the control over world economics then it is very very dangerous
Asked By: Mahesh - 3/27/2009
Best Answer - Chosen by Asker
You can view various videos from 60 minutes online, they have some good explanations for how this all started. Glen Beck on TV also has some good shows and explanations... More
Answered By: JeffKan1 - 3/27/2009
Additional Answers (4)
To many people bought homes with creative financing.
Answered By: Scott - 3/27/2009
The banks began giving out large loans to people who couldn't pay them back. The people thought that if the value of the house went up, they could pay back the loan and make a profit. There were a lot of companies invested in mortgages, and when the people couldn't pay them back, the banks started to fail. When the... More
Answered By: Ríkin - 3/27/2009
You're right, there is no 1 cause. It's like blaming a cigarette butt for a forest fire. Large destruction can occure when the conditions are unstable enough... More
Answered By: I'm dah Pahteee Poopah - 3/27/2009
1. Your government is printing money that isn't 100 percent backed by gold, and hasn't been since 1933 (no gold in since 1974). The dollar is losing its power as a global common exchange. China last week called for a new standard... More
Answered By: Your Uncle Dodge! - 3/27/2009
$21/hr Start, Avg Pay $72K/yr Check Our Map of the 1700 Openings.
New job opportunities added daily. Search & apply for DC jobs now.
Click. Search. Apply. Free!
Get College Degree Online Faster than you Think. Financial Aid Options
Other Career Questions
What jobs are there in the business field that are night jobs? Places and job titles please. Im have a BA in Business Admin and looking for a night job, already have a morning/day job.
Enumerate these jobs Say, patent application writting. patent application writing. In a company, what jobs are needed to keep confidential?
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.