2008 Financial Crisis
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Last updated 7:12 PM on 5/6/23
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15 Terms
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% of CDOs with best rating, % that defaulted
70% best rated
75% defaulted
75% defaulted
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jobs lost in US in 2008
2 million
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everyone in UK estimated how much worse off
£20,000
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US amount spent on bailouts of banks
$498 billion
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UK amount spent on bailouts of banks
£137 billion
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UK banks nationalised
Bradford and Bingley (Santander)
Northern Rock
acquired parts of Lloyds and RBS
Northern Rock
acquired parts of Lloyds and RBS
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US spent on stimulus response
6% of GDP
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UK spent on stimulus response
2\.2% of GDP
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US tax reduced for individuals
$237 billion
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US tax reduced for businesses
$51 billion
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US interest rates cut
5\.25% to 0.25%
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UK interest rates cut
5\.5% to 1%
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Funding for Lending Scheme
2012
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US spending on QE
$4.5 trillion
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UK spending on QE
£375 billion
Note 
Flashcards (49)