The crises of the American financial foundations for the year2008, Reasons and influences with special care for Iraqi economy

Jaseem Mohammed, Ahmed

	The crises of the American financial foundations for the year2008, Reasons and influences with special care for Iraqi economy
Economic Sciences
Article 1, Volume 7, Issue 26, 2011, Pages 1-25 PDF (0 K)
Author
Ahmed Jaseem Mohammed
Abstract
Most of the industrial states are severely suffering the negative effects of the current financial crisis altogether with most of the developing countries . The financial crisis breakout which starts from the United States of American with the so-called (Sup prime) and then moved swiftly to the bank system and the world wide financial corporations where group of the serious problems resulted and effected the international stock markets leading to a decreasing slump in stocks values and bills of sale which in turn led to series of bankruptcy . Logically, these breakdown will lead to imbalance in the financial institutions and in deferent ways like the insurance average slump associated with the economic recession and the big numbers of employees released who belong to the big affected companies especially the companies specified in the heavy industry suck as the US big cars industry companies . In spite of the wide verity of the crisis causes, but according to research the real reason behind the crisis are the false boom of the real estate. The fiscal derivative, and the increases in grating the mortgaging loans of the serious risks, that is, (The loans of the weak insurance credibility ), adding weak government monitoring steps on the stock markets and the financial activities . Concerning the crisis and the Iraqi Economy, we observed that Iraq didn’t affect directly but the economic crisis negative out come transferred indirectly due to the international low oil prices which led to announce the first deficit in the Federal 2009 Budget for the first time since 2003 .

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