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Global Economic Crisis
Global Economic Crisis, World Financial Crisis, Economic Turmoil.
The world financial system is now undergoing a global economic crisis of staggering proportions. The root cause of the economic and financial crisis was the United States mortgage market selling sub-prime mortgages to large numbers of consumers with inadequate incomes. These mortgages were bundled into securitized paper investments, and sold by Wall Street to major financial institutions across the globe.
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