Monday, April 30, 2012 at 9:40 am (Updated: August 6, 3:36 pm)
What caused the meltdown of the U.S. financial markets in 2008 that led to our country’s worst recession in decades?
Risky moves by greedy financial institutions, inadequate government supervision of them, and misguided policies by President George W. Bush’s administration have all received shares of the blame.
But most experts now say that a big reason for the meltdown was the financial illiteracy of a large portion of our population, especially young adults who were responsible for many mortgage defaults that contributed to the meltdown.
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