The Dow lost more than 7% today, dropping to levels not seen since the first half of 2003.
I’ve seen videos that blame the financial crisis on providing zero-down, sub-prime mortgages to people that wouldn’t be able to handle the combination of dropping real estate values and increasing payments. It makes sense to me, regardless of which party is to blame.
I’ve also read we’re in a global financial crisis.
Did a U.S. mortgage policy caused a worldwide financial crisis?