Series of events that led to the great recession

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In your own words, describe the series of events that led to the “Great Recession” over the 2007-2009 period. Hint: In the vocabulary of Chapter 9, an asset price bubble in what sector of the economy started the the chain of events that ultimately led to the recession? What role, if any, did subprime mortgages and innovative but risky mortgage innovations play in this story? Did securitazation play a role in this story? Please explain?

Reference no: EM131092511

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