The financial crisis that began in the summer of 2007, has an impact on the world markets for more than a year. Born in the U.S. mortgage market, it quickly embraced the entire global financial system. The company conducted an analysis of state Finmag financial systems of the usa and Europe, and tried to find the answer to the question – who will soon be restored – the United States or United Europe. The root cause of the financial crisis become a large volume of mortgage lending to U.S. banks unreliable borrowers, who then failed to repay their obligations. As a oakley sunglasses sale consequence of what started the liquidity crisis, the first major victims of which were Fannie Mae and Freddie Mac. For a long time talking only about the problems of mortgage lending, but in July 2008 losses amounted to billions of dollars.
Following mortgages began to suffer car loans, and then the entire financial system. Major banks and corporations have suffered multibillion-dollar losses and were forced to proceed to radical measures, including cheap jordans online reduction of state employees, M & A market stopped many of the already Services announced deals were fake ray bans in limbo, as buyers can not find the means to implement acquisitions. In the first working day in 2009 the world’s leading economists disappointed investors with new pessimistic forecasts. According to a study of Blue Chip Economic Indicators, the current recession the U.S. economy, officially launched in third quarter of 2008, will become jordan retro 1 the longest since World War ii. Most of the 52 surveyed economists believe the recovery of the financial system cheap nfl jerseys and the production will not begin until mid- year, and significant progress will occur only in 2010.