Teaching Resources on the Global Economic Crisis
- Boyes/Melvin
The History of the Economic Collapse
The US and most of the world is embedded in a serious economic downturn or recession, some are calling a depression. The reasons for the economic collapse are relatively straightforward to understand even though the terms thrown around to describe them -- securitization, credit default swaps, mortgage back securities, Fannie Mae and Freddie Mac, etc. , -- are often confusing In this chapter we look at the history of the housing bubble and its collapse.