As the global financial crisis deepens, people around the globe are struggling to navigate the aftermath.
Here are the big questions we need answered: 1.
How will the crisis impact banks?
What will the fallout be?
Who will get hurt?
Will we see more consolidation?
How much will we lose?
What are the implications for workers and communities?
Will it be as bad as the Great Recession?
How do we fix it?
What does it mean for Americans?
What should we be worried about?
Will the next financial crisis come sooner than expected?
The Big Picture: What we know about the financial crisis so far 1.
Millions of Americans have lost their jobs and homes, with the majority of them in the U.S. and Canada.
Many banks have closed.
Banks are still reeling from the financial impact of the crisis.
A lot of companies have been forced to sell off assets to pay back creditors.
The biggest banks have experienced some of the worst losses in history.
A total of $1.3 trillion in assets was wiped out.
Banks have already had to lay off thousands of employees.
The financial crisis has been a boon for hedge funds and private equity firms.
Banks now pay higher interest rates than they have for years.
Banks can get loans from the Federal Reserve.
Banks will be hit hard if they are to reopen, and will have to absorb the losses.
The market is now seeing the biggest sell-off in history for the first time in years.
There is little doubt that a lot of bad news is coming.
Banks and other financial institutions have been battered by a lot, but not by this much.
The recession has taken a toll on many people.
Banks, especially in the private sector, have struggled to get through the crisis without losses.
Some people have lost jobs and have taken their homes.
Many people have had to give up jobs in the financial sector because they are not able to find other jobs.
The big banks have faced criticism from a range of people, including members of Congress, the president, and some bankers.
Banks in many countries have been suffering for years because of the economic and social fallout of the financial crises.
Bank failures have caused billions in losses.
There are many things that need to be done to fix the crisis: • Protect consumers and the economy.
• Improve safety and security.
• Create jobs.
• Boost the economy and the jobs market.
2,000,000 Americans are unemployed.
Millions more are struggling with stagnant incomes, higher unemployment, and the threat of a looming recession.
The recovery is not guaranteed, but it is possible.
The following steps are a good start: 1) Protect consumers by limiting payday loan and ATM fees.
2) Make it easier for consumers to pay their bills with a credit card or debit card.
3) Provide financial education for all Americans.
4) Make credit available to people with pre-existing conditions, including asthma and diabetes.
5) Help small businesses create jobs, as banks are trying to avoid bankruptcy.
6) Make banking safer by expanding background checks and providing enhanced information for customers about their rights under federal, state, and local law.
7) Support financial institutions by supporting them with taxpayer money to pay down their debts.
8) Support small businesses by offering financial incentives and loans to help them expand.
9) Create more lending options for people with a wide range of income levels.
10) Support banks by providing loan forgiveness to people who are in arrears or are facing financial hardship.
11) Make more loans available for Americans who are struggling in the recession.
12) Pay off the debt of the American middle class.
13) Increase the number of workers on unemployment insurance and offer more job training to help workers return to the workforce.
14) Create jobs by creating jobs through new apprenticeships and training programs.
15) Give people the tools to take control of their finances.
16) Make financial education and job training available to all Americans and to encourage people to take risks and take risks to build wealth.
17) Ensure that all Americans have access to health insurance.
18) Help people with disabilities get the education and training they need to find jobs.
19) Protect the environment.
20) Make the economy more competitive.
21) Improve the quality of life for Americans.
22) Provide tax relief to middle class Americans and lower-income Americans.
23) Create a tax credit for small businesses that create jobs.
24) Provide better public education for