Briefly Describe How the Last Credit Crisis Developed in the U.S

question 147

Essay

Briefly describe how the last credit crisis developed in the U.S. economy and how it precipitated the worldwide recession.

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Definitions:

Crane

A large, tall machine used for moving heavy objects by suspending them from a projecting arm or beam.

Forklift

A powered industrial truck used for lifting and moving materials over short distances, commonly found in warehouses and manufacturing facilities.

Restrictive Covenant

A private restriction on the use of land. If its benefit or obligation passes with the land’s ownership, it is said to “run with the land.”

Ongoing Business

A term referring to a company or enterprise that is actively engaged in business operations without interruption.