Question

Now, we all know the result: the bursting of a debt-based bubble; the failure of several of the world's largest financial institutions; the sudden decline in available credit; the deterioration of the economy; the unprecedented intervention of the federal government to stabilize the financial markets and prevent a wider collapse; and most importantly, the terrible pain in the lives of ordinary Americans. And there are retirees who've lost much of their life savings, families devastated by job losses, small businesses forced to shut their doors. According to the president’s speech, what were some effects of the financial crisis? Check all that apply. The loss of savings for many workers the increased strength of banks the increased stability in the economy the loss of credit in the economy growing economic challenges for many.

Answer 1

The effects of the Financial crisis according to the President are:

• The loss of savings for many workers.
• The loss of credit in the economy.
• Growing economic challenges for many.

Effects of the Financial Crisis of 2008

• Banks lost a lot of money and so reduced the amount of credit they could offer.
• People lost their savings.
• Several people lost their jobs as businesses closed which made things tough for them.

In conclusion, there were several effects of the financial crisis ranging from job losses to savings being lost.

Find out more on this financial crisis at brainly.com/question/906282.