Housing Crisis
What did many people buy during the early 2000s that they couldn't afford?
What do we call companies that deal with money and investing?
Banks
What happened to many peoples jobs during the crisis?
They lost them
What did the government do to help banks and what is it called when they do?
Give them money, bailouts.
What is Mrs. Brechlin's First Name?
Jennifer
What kind of loan did banks give to people with bad credit?
Subprime mortgage
What big bank failed in 2008 and caused panic?
Lehman Brothers
What happened to house values during the crisis?
They went down
What does TARP stand for?
Troubled Asset Relief Program
Largest Desert in the world?
Antarctica
What happened to prices after they peaked?
They went down
What were banks selling that were made up of risky home loans?
Mortgage backed securities
What happened to retirement savings in the stock market?
Many were lost
What big law did President Obama pass in 2009?
Stimulus Plan (AARA)
Clifford, Elephant, Thanoas, Shrek
What is it called when people can't pay their mortgage and lose their homes?
Foreclosure
What happened when banks lost too much money?
They went bankrupt or needed help
What did the crisis cause in countries around the world?
A global recession
What was the goal of the stimulus plan?
Create Jobs and help the economy.
How old is Gordon Ramsey
58
What kind of mortgage starts low but gets more expensive later?
Adjustable rate mortgage
What is it called when banks stop trusting each other and stop lending money?
Credit Freeze
What happened to mental health during the crisis?
What's one thing the government could have done better during the crisis?
Help regular people more.
How old was the oldest ostrich in the world? You get it if you are within 5 years.
62 years and 7 months