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:
it is B
Explanation:
that selected a governor that recognized by the united states
You didn't provide us the text excerpt for your question, so let me simply provide some details concerning the Catholic Reformation.
The Roman Catholic Church responded to the Protestant Reformation in a number of ways intended to strengthen its own stance and its hold on church power. This movement by the Catholic Church is known as the Counter-Reformation or the Catholic Reformation. It included a number of features, such as:
- The formation of religious orders that aimed to build allegiance to Rome and the papacy, and to educate people in Catholic teaching. The Society of Jesus, known as the Jesuits for short, was a key order of this sort. The order was founded by Ignatius of Loyola in 1534, along with Francis Xavier and several others.
- The Council of Trent served to reform some abuses that were acknowledged by the Catholic Church, such as the sale of indulgences and the practice of selling church offices (simony). The council also aimed to improve priests' knowledge. The <em>Roman Catechism</em>, also known as the <em>Catechism of the Council of Trent</em>, was commissioned by the Council and was published in 1566, with the intent of thoroughly educating the church's clergy.
- Beyond the reforms noted concerning the Council of Trent, mostly that Council served to reassert the full authority of Roman power and doctrine over the Protestant threat. The Council of Trent held meetings over a span of years from 1545 to 1563.
- The Roman Inquisition was founded in 1542 to act as an investigative body in regard to threats to Rome's teachings. About a century later, Galileo would be one of the most famous persons tried by the Roman Inquisition.
President Obama's first inauguration was held during the depths of the Great Recession. The situation was dire; the economy had lost nearly 3.6 million jobs in 2008 and was shedding jobs at a nearly 800,000 per month rate when he took office.
The International Monetary Fund encourages economic development following the fact that it’s an agency that helps to promote economic cooperation. This is following the maintaining an orderly system of world trade and exchange rates
