Open AccessThe Housing And Economic Recovery Act Of 2008
Author(s) -
Steven L. Kroleski,
Patrick J. Reville,
George A. Mangiero
Publication year - 2011
Publication title -
journal of business and economics research (jber)
Language(s) - English
Resource type - Journals
eISSN - 2157-8893
pISSN - 1542-4448
DOI - 10.19030/jber.v7i3.2270
Subject(s) - loan , style (visual arts) , harm , span (engineering) , government (linguistics) , reform act , economic recovery , political science , economics , law and economics , law , finance , history , keynesian economics , engineering , philosophy , linguistics , civil engineering , archaeology
The 2008 economic crisis world-wide was caused by many factors. However, of the most blatant contributors in the U.S. were the failure of sub-prime mortgages and the government's failure to properly regulate the banking loan industry. This triggered the passage of the Housing and Economic Recovery Act of 2008, which was enacted on July 30, 2008. This Act, in the collective opinions of the authors, is a little too little and a little too late to actually remedy the massive harm caused by these types of loans and the abuses in the home loan industry.
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