The 2008 recession/financial crises one of the worst of its kind in a generation. Major economies including the United States and the UK suffered a period of recession, consistent low-growth, rising unemployment and many businesses closing down.
A 10-member committee called the Financial Crisis Inquiry Commission was setup by the US government to study the causes of the recession, in the hopes that a future similar crisis could be prevented.
In 2011, the committee released their findings and pointed out the two major reasons for the crisis:
1. The basic reason for the crises as the Collapse of the housing market.
2. Which in turn was fueled by toxic mortgages, low-interest and easy credit available to everyone and minimal regulation.
The report also pointed out vast problems of corporate governance, lack of government will and unpreparedness.
Answer: Spanish Inquisition, (1478–1834), judicial institution ostensibly established to combat heresy in Spain. In practice, the Spanish Inquisition served to consolidate power in the monarchy of the newly unified Spanish kingdom, but it achieved that end through infamously brutal methods. The rise of the Spanish Inquisition
Explanation:
Slavery developed in the American colonies in the mid-1600s due to the economy of the South depending on the cultivation of crops; the need for agricultural labor led to the establishment of slavery.
The most important post war tax was the stamp act of 1765, causing everything that was made to have a stamp, confirming that the tax had been paid but was repealed because the colonists didn’t like it. More acts were made to raise revenue but colonists weren’t happy either. Lawyer John Dickinson argued that “taxation without representation was not allowed”. In return, the tea act was made to tax tea imported. The colonists thought the best way to protest the act was to turn away ships carrying tea. And in places like New York, they were able to do so, but not in Boston because the governor of Massachusetts did not allow for ships to be turned away. So the colonists dumped all the tea, also known as the Boston tea party. The British were angry at the Americans so they closed the harbor, town meetings were banned, etc. this increased resistance from both Massachusetts and Britain to which led the revolutionary war. Then shortly after, congress voted to separate from Great Britain and then two days later the declaration or independence was signed :)
