THE RISE OF POLITICAL CONSERVATISM 1980 1992
PRESIDENT GEORGE HW BUSH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People started investing more in the stock market.
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People wrote to their congressmen to demand they make better bank rules.
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People were getting kicked out of their homes, housing prices went down, the stock market was crashing and businesses started losing money across the US.
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People started writing letters to their banks letting them know they were immoral for giving out loans to people who couldn’t afford them.
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Detailed explanation-1: -Stock market crashes can reduce business financing and consumer confidence, both of which can cause recessions. These types of crashes typically occur after periods of irrational exuberance, when investors stop caring about whether a stock’s price accurately reflects the company’s value.
Detailed explanation-2: -The Markets Begin to Decline Homeowners were upside down-they owed more on their mortgages than their homes were worth-and could no longer just flip their way out of making the new, higher payments. Instead, they lost their homes to foreclosure and often filed for bankruptcy in the process.
Detailed explanation-3: -Increased unemployment, loss of income and increased vulnerability have been among the dominant social impacts of the crisis.
Detailed explanation-4: -The 2008 financial crisis began with cheap credit and lax lending standards that fueled a housing bubble. When the bubble burst, the banks were left holding trillions of dollars of worthless investments in subprime mortgages. The Great Recession that followed cost many their jobs, their savings, and their homes.