| The economic crisis that began in 2007 was the direct result of a crash in the housing market. Banks approved home loans for unqualified borrowers. When these borrowers were unable to keep up payments, the banks lost billions, leading the U.S. economy and financial system to the brink of collapse.
There is optimism that the worst of the financial crisis is in the past. Employment numbers are improving, stocks are gaining ground, and American consumers are beginning to feel more optimistic about the future...............................................Full Article: Source
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