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Scope of the 2009 financial crisis

February 5, 2009 Written by nicolae

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The crises in banking and credit in the United States had a global reach, affecting a wide range of financial and economic activities and institutions, including the:

overall tightening of credit with financial institutions making both corporate and consumer credit harder to get;
Financial markets (stock exchanges and derivative markets) that experienced steep declines;
Liquidity problems in equity funds and hedge funds;
Devaluation of the assets underpinning Insurance contracts and pension funds leading to concerns about the ability of these instruments to meet future obligations:
Increased public debt public finance due to the provision of public funds to the finance and other affected industries, and the
Devaluation of some currencies (Icelandic crown, some Eastern Europe and Latin America currencies) and increased currency volatility,

The first symptoms of what is now called the late 2000s recession ensued also in various countries and various industries. The financial crisis, albeit not the only cause among other economic imbalances, was a factor by making borrowing and equity raising harder.

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

Video: Economy better equipped today: Dale (William Dale, President, Curex Currency spoke to UTVi on whether the current financial crisis can indeed be compared to the Great Depression.)

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