Because of the financial crisis that began in 2008, by the end of 2009:
A)unemployment was in excess of 15 percent
B)many homeowners owed more money on their mortgage loans than the their homes were worth
C)home mortgage foreclosure rates and personal and business bankruptcies were rapidly declining as the recovery accelerated and strengthened
D)over 500 banks in the U.S.had already failed with over 2,000 more being considered financially weak
E)all of the above are true

Question

Quizplus · Accepted Answer

Many homeowners owed more money on their mortgage loans than the their homes were worth. While unemployment rates did rise during the financial crisis, it did not exceed 10 percent until 2009. Home mortgage foreclosure rates and personal and business bankruptcies actually increased and did not start declining until 2010. While many banks did fail during this time, the number was closer to 150 rather than 500.

Because of the Financial Crisis That Began in 2008, by the End