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Economy. U.S. manufacturing activity pulls off 11-year low. Mon, Jun 1st 2020. Real Estate. Mortgage demand from homebuyers shows strong and unexpectedly quick recovery. Wed, May 27th 2020.
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An implosion in the financial markets threw the economy into the worst recession since the Great Depression.How did this happen? It began with derivatives that were supposed to insure against defaults on sub-prime mortgages. Demand for the derivatives was so strong, it almost forced insurers like the American International Group to default.. That threw Wall Street into a panic which spread.
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