citizens are required to pay a significant amount in taxes

The financial

crisis

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of 2007–08,

also

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called the subprime mortgage

crisis

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, was a

crisis

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that started in 2007 impacting the world. Since 1929 when the Great Depression began, the economy began to have the worst downturn,

then

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this

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had crashed in asset values into a "sub-prime

crisis

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" in the US. A cause of the

crisis

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was when poor credit people received home loans from part banks

this

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was a big mistake given that

this

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caused prices to fall for houses in the US,

accordingly

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, it had to be renamed home loan debts for "collateralized debt obligations", people were forced to go to more loans to cover these debts but were worst because now their economy and their ownership were at risk. The collapse of the financial institutions begins and an inevitable generalized global

crisis

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,

although

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the government wanted to maintain confidence,

this

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did not work and a global recession occurred where the economists did not agree;

this

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was not a surprise to anyone, generating internal conflicts in the state and creating a divided political systems