The 2008 Financial Crisis, often referred to as the Great Recession, was a watershed moment in global economic history and is the worst recession in modern history. This committee will delve into the numerous causes, repercussions and responses to this catastrophic event.

 

While there are multiple narratives and numerous books written on it, at its core, the crisis was triggered by the collapse of the US housing market and its effect on the financial sector, which the delegates will debate about. The crisis led to bank failures, stock market crashes, and severe economic downturns in several countries. It exposed systemic vulnerabilities, regulatory defects and how the global markets are interconnected.

 

Delegates will explore the policy measures enacted by the government and the Fed to stabilize the American economy, restore confidence and prevent future crises. 

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