| Description: | The world has entered a global recession that is causing widespread business contraction, increases in unemployment, and shrinking government revenues. The process for coping with the crisis by countries across the globe has been manifest in four basic phases. The first has been intervention to contain the contagion and restore confidence in the system. The second has been coping with the secondary effects of the crisis, particularly the global recession and flight of capital from countries in emerging markets and elsewhere that have been affected by the crisis. The third phase of this process is to make changes in the financial system to reduce risk and prevent future crises. The fourth phase of the process is dealing with political, social, and security effects of the financial turmoil. The role for Congress in this financial crisis is multifaceted. This report describes this role, as well as the financial crisis in general, in detail. |
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| Creator(s): | Nanto, Dick K. |
| Creation Date: | July 2, 2009 |
| Partner(s): |
UNT Libraries Government Documents Department
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| Collection(s): |
Congressional Research Service Reports
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| Usage: |
Total Uses: 102
Past 30 days: 7
Yesterday: 0
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| Creator (Author): |
Nanto, Dick K.
Specialist in Industry and Trade |
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| Publisher Info: |
Publisher Name: Congressional Research Service, Library of Congress
Place of Publication: Washington, D.C.
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| Original Creation Date: | July 2, 2009 | |
| Description: | The world has entered a global recession that is causing widespread business contraction, increases in unemployment, and shrinking government revenues. The process for coping with the crisis by countries across the globe has been manifest in four basic phases. The first has been intervention to contain the contagion and restore confidence in the system. The second has been coping with the secondary effects of the crisis, particularly the global recession and flight of capital from countries in emerging markets and elsewhere that have been affected by the crisis. The third phase of this process is to make changes in the financial system to reduce risk and prevent future crises. The fourth phase of the process is dealing with political, social, and security effects of the financial turmoil. The role for Congress in this financial crisis is multifaceted. This report describes this role, as well as the financial crisis in general, in detail. |
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| Physical Description: |
123 pages. |
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| Partner: |
UNT Libraries Government Documents Department
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| Collection: |
Congressional Research Service Reports
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| Identifier: |
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| Resource Type: | Text | |
| Format: | Text | |
