Accounting : Great Recession

Running head: GREAT RECESSION1Great recessionNameInstitutionDateGREAT RECESSION2The 2008 2009 financial crisis is what is commonly known as Great Recession and itaffected millions of Americans. The recession officially ended in June 2009, but the impact itcaused wasn't easily recovered, hence the slow recovery. Within a period of 19 months, thefinancial crisis erased wealth worth trillions of dollars, robbed tens of thousands of Americansowned home and destroyed more than 80 million jobs (Christiano, et al., 2015).In the United States economy, it was the worst since the 1930s. It saw many adults', evenmore than half of them during this period lost jobs or faced cut in hours or pay, and fall in wealthfor almost everybody. Though the economic downturn was a global thing the financial crisis wasmost pronounced in the U.S.A, which was due to the subprime crisis main ...


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