Federal Reserve Bank of Dallas - Recovering from the Housing and Financial Crisis

ENPNewswire-16 July 2010-Federal Reserve Bank of Dallas - Recovering from the Housing and Financial Crisis(C)2010 ENPublishing - http://www.enpublishing.co.uk Release date- 15072010 - The recent recession was unusual because it stemmed from an unsustainable easing of credit standards and financing, which fueled the prior expansion but also the imbalances that led to the worst recession since the 1930s.[1] When losses on new financial practices ended excessive lending, the economy was hit by housing and credit shocks, culminating in a financial crisis. Home construction plunged, wealth fell, credit standards tightened and financial markets seized up.