Ciencias Sociales

Social Science Final Project
1.-Explain the financial crisis that began in the US in 2007.
This crisis occurred in the U.S. where subprime mortgages,which were a special type of mortgage, where they made loans to low income people to generally facilitate the purchase housing. For the same reason thatthose loans were made to low income were, they were very risky.

This crisis was unleashed 2007 when investors perceived warning signs. For thenon-payment of these loans, increased fees from these same claims, they increase the default rate and the level of attachment, not only in subprime mortgages.These developments also affected the banks and large investment funds who had committed their assets in subprime mortgages, and this resulted in a creditcrunch (credit crunch) and falls in stock markets around the world, due, especially, the lack of liquidity.
2.- Explain three effects it had on UScitizens.
The effect on the public of the crisis was that as the economy unexpectedly low ciudadans too so could not buy the necessities for the home. For thesesame many companies went bankrupt that is left stopped buying many things. Example -> GMC
3.- Identify three countries it affected explaining how.* Mexico
* Spain
* Chile

4.- Explain the financial crisis and economic recovery plan the US government has set up.
5.-Explain the effectsthis crisis has had on Mexico.
6.- Briefly explain the 2010 economic crisis in Greece.
7.- explain how the Greek crisis affected the world economy.