Write a paper about the Great Recession of 2007-2009.
What were the causes of this recession? Describe the home mortgage crisis and its effects on the economy. How did this lead to the economic melt-down in 2007 and subsequently? Look at Federal legislation affecting home mortgages and sub-prime lending. What led to the collapse of investment house giants and how did this affect the economy? Why was one bailed out and the other not? What policy initiatives did both Presidents George W. Bush and Barack Obama use to try to bring the economy out of the recession? What were Congress and the Federal Reserve doing in concert with the two different presidents to stimulate the economy?
Since two different presidents with opposing ideological stances worked on this recession to try to fix the economy, ask yourself: did either one or both succeed? Try to judge which of the two approaches was more successful or more likely to succeed.
These are just some of the questions you can ask and write about. Chapter 14 addresses this topic specifically; part of chapter 13 (unconventional monetary policy) goes along with it.
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