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The global economic crisis began with financial turmoil in the United States that rapidly spread to the rest of the world to create the worst global economic downturn since the Great Depression. Following more than a year of turmoil a full-blown banking crisis erupted in September 2008. Financial institutions around the globe had to write off huge loans and the structured finance market collapsed
The global economic crisis began with financial turmoil in the United States that rapidly spread to the rest of the world to create the worst global economic downturn since the Great Depression. Following more than a year of turmoil a full-blown banking crisis erupted in September 2008. Financial institutions around the globe had to write off huge loans and the structured finance market collapsed