According to the National Bureau of Economic Research, the Great Recession started December 2007 and ended June 2009. The Dow Jones Industrial Average dropped 777.68 points on September 29, 2008. This was the largest drop in history. Economists blame Congress for this drop because “lawmakers refused to pass a bailout bill that would have helped many banks stay afloat”. This was the longest recession since World War II. The bailout bill was finally passed in October 2008 and this bill “established the Troubled Assets Relief Program, which allowed the Treasury to bail out banks in crisis”. Finally, improvements were seen “in many economic areas, including the stock and unemployment rates”. Therefore, the National Bureau of Economic Research declared the end of the Great Recession.
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