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One of the Trigger Points for the Financial Crisis of 2008

question 164

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One of the trigger points for the financial crisis of 2008 was that subprime borrowers defaulted when the interest on adjustable-rate mortgages went up.


Definitions:

Corporate Code

A set of guiding principles or ethics that a corporation adopts to govern its behavior in the business world.

Labors' Rights

The legal and moral entitlements associated with employment, including the right to fair wages, safe working conditions, and freedom from discrimination.

Global Economy

An interconnected world economic system in which goods, services, and labor move across international borders with relative ease.

European Works Council

A body representing employees in European Union countries, established to ensure workers in multinational companies receive information and are consulted on transnational issues affecting their employment.

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