The financial problem created in United States is now beginning to take its toll in other countries of the world as well. This image has been taken from BBC News website which showed the graphical representation of the effects of the financial crisis and its effect in world money and stock markets. It all started with mortgage giants Fannie Mae and Freddie Mac which were taken over by the US government by injection $200bn. Despite this one of the major US investment banks, Lehman Brother collapsed due to bad mortgage debts and now this is having its effects in the other parts of the world as well.
Before the situation comes to normal I think many small countries will pay dearly due to this crisis. Despite the $700bn dollar bail-out plan approved by US Congress all is not over as yet. It will take considerable time before things become normal.
The financial problem created in United States is now beginning to take its toll in other countries of the world as well. This image has been taken from BBC News website which showed the graphical representation of the effects of the financial crisis and its effect in world money and stock markets. It all started with mortgage giants Fannie Mae and Freddie Mac which were taken over by the US government by injection $200bn. Despite this one of the major US investment banks, Lehman Brother collapsed due to bad mortgage debts and now this is having its effects in the other parts of the world as well.
Before the situation comes to normal I think many small countries will pay dearly due to this crisis. Despite the $700bn dollar bail-out plan approved by US Congress all is not over as yet. It will take considerable time before things become normal.
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