What big event happened in 2009?
June 1 – Air France Flight 447, en route from Rio de Janeiro, Brazil, to Paris, crashes into the Atlantic Ocean, killing all 228 on board. June 11 – The outbreak of the H1N1 influenza strain, commonly referred to as “swine flu”, is deemed a global pandemic.
What significant events happened in 2008?
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- Tibetan monks arrested after the March, 14 unrest.
- Cyclone Nargis killed more than 138,000 in Myanmar.
- 2008 Sichuan earthquake.
- XXIX Summer Olympics in Beijing, China.
- South Ossetia war.
- November terrorist attacks in Mumbai.
- Lehman Brothers went bankrupt following the subprime mortgage crisis.
What was the biggest news story in 2009?
NEW YORK — The convoluted American economy — restoring windfalls to a lucky few while leaving millions jobless and distraught — was the top news story of 2009, followed closely by the inauguration of President Barack Obama, according to U.S. editors and news directors voting in The Associated Press’ annual poll.
What caused 2008 stock market crash?
The stock market crashed in 2008 because too many had people had taken on loans they couldn’t afford. Lenders relaxed their strict lending standards to extend credit to people who were less than qualified. This drove up housing prices to levels that many could not otherwise afford.
How much money did Wall Street lose in 2008?
The stock market crash of 2008 occurred on Sept. 29, 2008. The Dow Jones Industrial Average fell 777.68 points in intraday trading. 1 Until the stock market crash of 2020, it was the largest point drop in history.
Who is to blame for the Great Recession of 2008?
For both American and European economists, the main culprit of the crisis was financial regulation and supervision (a score of 4.3 for the American panel and 4.4 for the European one).
Why did people lose their job in 2008?
In the US, job losses have been going on since December 2007, and it accelerated drastically starting in September 2008 following the bankruptcy of Lehman Brothers. By February 2010, the American economy was reported to be more shaky than the economy of Canada.
Who was most affected by the Great Recession?
17951), co-authors Hilary Hoynes, Douglas Miller, and Jessamyn Schaller find that the impacts of the Great Recession (December 2007 to June 2009) have been greater for men, for black and Hispanic workers, for young workers, and for less educated workers than for others in the labor market.