Policy Responses during the Great Recession.
Policy Responses during the Great Recession: The Great Recession commenced late in 2007 all through to June 2009. It caused the economy of the world to shrink for the first time ever, since the 1930s Great Depression.
The Great Recession originated from the United States housing crisis whereby the average real estate household sales price in United States started to deteriorate after its July 2006 peak.
The securities tied to real estate declined precipitately in price, endangering the creditworthiness of financial institutions and over-leveraged banks in the Europe and the United States, which retained the greater part of these securities (Kolb, 2010).
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the NRI works to end helps suffering neighborhoods transform themselves over the next few decade. The NRI values collaboration, community involvement, and creative and inclusive problem solving.
In this process, results are recounted and evaluated. The best practices are then underlined, and fresh resources are identified. This in return strengthens the suffering neighborhoods and eventually reduces the number of suffering people in this neighborhoods.
Normally, after each and every policy is formulated it is passed through the white house for presidential approval, before it is implemented. The white house is always supportive of policy initiatives so long as they are beneficial to the American citizens. There are cases, however, where a policy initiative is not supported by the white house. This is normally the case if, the policy initiatives doesn’t attain the recommended threshold.
Kolb, R. W. (2010). Lessons from the financial crisis: Causes, consequences, and our economic future. Hoboken, N.J: Wiley.
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