The Financial Crisis

Paper Summary:

The paper provides a summary of the financial crisis' evolution that began in the summer of 2007 in the United States as a mortgage crisis. The paper compares this crisis to the Asian crisis that took place a decade ago. The paper predicts that India will be the country most affected by this crisis since it is one of the most important destinations for outsourcing and therefore the paper recommends that companies do not stop their investment process abroad.

From the Paper:

"The international financial markets are currently characterized by a severe crisis, which started in the United States in the mortgage sector, but did not take much time to develop into the greatest financial crisis that the past few decades witnessed on a global scale.
"Even more, the current financial crisis that is affecting the entire world is considered by all experts the largest financial crisis since the Great Depression. The effects of the crisis or its size were probably not correctly anticipated from the beginning."

Sample of Sources Used:

• Stewart, Heather (2008). IMF says U.S. crisis is largest financial shock since Great Depression. The Guardian. Retrieved October 6, 2008 from http://www.guardian.co.uk/business/2008/apr/09/useconomy.subprimecrisis.
• Hawk, Bobby (2008). CRA the Root Cause to the U.S. Financial Crisis. OpEdNews. Retrieved October 6, 2008 from http://www.opednews.com/articles/Root-cause-to-the-financia-by-Bobby-Hawk-080928-421.html.
• Arrington, Michael (2008). How the U.S. Government Engineered the Current Economic Crisis. TechCrunch. Retrieved October 6, 2008 from http://www.techcrunch.com/2008/09/26/the-us-government-engineered-the-current-economic-crisis/.
• Englund, Michael (2008). September U.S. Payrolls Fall as Economy Worsens. BusinessWeek online. Retrieved October 6, 2008 from http://www.businessweek.com/investor/content/oct2008/pi2008103_364137.htm?chan=top+news_top+news+index+-+temp_investing.
• Solomon, D. & Paletta, D. (2008). U.S. Drafts Sweeping Plan to Fight Crisis as Turmoil Worsens in Credit Markets. The Wall Street Journal. Retrieved October 6, 2008 from http://online.wsj.com/article/SB122177442732653979.html.

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