The Subprime Crisis: Lessons for Business Students

The first major global economic contraction of the 21st century, or the "Great Recession", as it is more commonly known, began in December of 2007, and would prove to be one of the most catastrophic economic events in postmodern history. The bursting of the American housing bubble and the subprime mortgage crisis that followed are widely attributed as being the primary causes for this economic downturn.