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Seizure in the banking system
The threat of a domino effect through the global financial system forced western governments to put vast sums of capital into their banks to prevent them from collapsing. The banks were rescued , but it was too late to prevent the global economy from going into freefall. This event is Monetary and Budget.
https://www.theguardian.com/business/2011/aug/07/global-financial-crisis-key-stages -
Obama Care 2007
In October of 2007, Obama made a new health care system called Obama care or the affordable care act. This was one of Obama’s most documented reform. This act was to make healthcare affordable for every American.
http://www.politico.com/story/2013/09/obama-health-care-conversion-obamacare-097185 -
Savings rate falls 2007
Consumers have started to slow down the amount they add to their savings, to ramp up their spending more instead. A recent pickup in consumer spending is fending off fears of another U.S. recession.The bad news is, it's coming at the expense of Americans' savings. This event is Monetary and Savings.
http://money.cnn.com/2011/10/28/news/economy/income_spending/ -
Tax Policy during 2008 Recession
Unemployment rates were rising from 2007 to 2008. As more people were becoming laid off due to payrolls, the government raised taxes for households, governments and companies. This event is fiscal and budget.
https://www.aei.org/publication/tax-policy-during-the-recession-the-role-of-fiscal-stimulus/ -
UBS Tax Evasion Scandal
In February of 2009 UBS AG was fined 780 million dollars in fines. The bank had helped thousands of wealthy americans evade taxes. After the scandal UBS had decided to stop providing banking services to United States clients. Monetary and budget -
Senate passed the American Recovery and Reinvestment Act, 2009
The goal of this plan is to create jobs that help america get the things they need to get done done. For example, repairing our infrastructure, updating our schools and hospitals, and promoting our clean, alternative energy sources that will help us declare independence from foreign oil. This event leadership and fiscal.
http://money.cnn.com/2009/02/13/news/economy/house_final_stimulus/index.htm?iid=EL
