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2. Troubled Asset Relief Program - Wikipedia

   en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

   The value was estimated for each security as of the time immediately following the announcement by Treasury of its purchase. For example, the COP found that the Treasury bought $25 billion of assets from Citigroup on October 14, 2008, however, the actual value was estimated to be $15.5, creating a 38 percent (or $9.5 billion) subsidy. [22]

3. Causes of the Great Recession - Wikipedia

   en.wikipedia.org/wiki/Causes_of_the_Great_Recession

   Recessions. Many factors directly and indirectly serve as the causes of the Great Recession that started in 2008 with the US subprime mortgage crisis.The major causes of the initial subprime mortgage crisis and the following recession include lax lending standards contributing to the real-estate bubbles that have since burst; U.S. government housing policies; and limited regulation of non ...

4. 2008 financial crisis - Wikipedia

   en.wikipedia.org/wiki/2008_financial_crisis

   The percentage of citizens living in poverty rose from 12.5 percent in 2007 to 15.1 percent in 2010. The Dow Jones Industrial Average fell by 53 percent between October 2007 and March 2009, and some estimates suggest that one in four households lost 75 percent or more of their net worth .

5. Economy of the United States - Wikipedia

   en.wikipedia.org/wiki/Economy_of_the_United_States

   By May 8, the US had reached a record 14.7 percent unemployment, with 20.5 million jobs lost in April. [128] The Chairman of the US Federal Reserve , Jerome Powell , warned that it may take "an extended time" before the US economy fully recovers from weak economic growth, due to the pandemic, and that in the foreseeable future the US can expect ...

6. Stock market - Wikipedia

   en.wikipedia.org/wiki/Stock_market

   As of 2011 the national rate of direct participation was 19.6%, for white households the participation rate was 24.5%, for black households it was 6.4% and for Hispanic households it was 4.3%. Indirect participation in the form of 401k ownership shows a similar pattern with a national participation rate of 42.1%, a rate of 46.4% for white ...

7. Goldman Sachs - Wikipedia

   en.wikipedia.org/wiki/Goldman_Sachs

   In 2008, Goldman Sachs had an effective tax rate of only 3.8%, down from 34% the year before, and its tax liability decreased to $14 million in 2008, compared to $6 billion in 2007. [187] Critics have argued that the reduction in Goldman Sachs's tax rate was achieved by shifting its earnings to subsidiaries in low or no-tax nations, such as the ...