Word: drops
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Dates: during 2000-2009
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...Most economists blame the collapse of the credit markets which began the recession on a drop in US housing prices and devaluing of subprime mortgage-backed securities. The Wall St. experts who created these financial instruments failed to predict how quickly low-quality mortgages would default to some extent because the national value of housing had gone up for decades. But, as defaults did rise, the value of these derivatives cascaded and the banks and other institutions which held them were required to take massive losses. At Davos, Russian and Chinese leaders attacked the U.S. for the "failure" of regulators...
...supposed to have. Tranches began to change in value, one by one. A small snow ball turned into an avalanche. On the day of this first unexpected default, the value of the other homes in its neighborhood ticked down a fraction. With each default that occurred, this drop accelerated...
That number will be a shocking drop. In 2006, 16.56 million vehicles were sold in the US. That number dropped to 16.15 million in 2007 and 13.2 million last year...
...fourth quarter GDP number may have been a little better than expected. Joblessness and a bleeding off of some of that overstocked inventory spell a historic drop...
...coffee cut joins a long list of cost-reduction measures implemented at Harvard’s schools as they struggle to reduce budgets in the wake of an unpredented drop in the endowment...