![]() In finance, “to short” an investment means to bet that it will go down in value. Michael Lewis, the best-selling author of several books about Wall Street, explains how the financial crisis came about in a book called “The Big Short.” The New York Times calls it “one of the best business books of the past two decades.” Stock markets fell, and international trade declined. ![]() From 2008 to 2012, economies around the world slowed. And trillions of dollars in consumer wealth was lost. It was the worst financial downturn since the 1930s. economy plunged into “the Great Recession.” That meant the economy was weak and many people lost money. In 2008, two big Wall Street firms, or companies that trade money and investments, collapsed.
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