Government Intervention During The Subprime Mortgage Crisis
As a consequence of the subprime mortgage crisis, a variety of government bailouts were implemented to stabilize the financial system during late 2007 and early 2008. Governments intervened in the United States and United Kingdom and several other Western European countries, such as Belgium, France, Germany, Ireland, Luxembourg, and the Netherlands. In addition, global reform of the banking industry has been discussed, to reduce speculation. Measures include a supertax on bonuses, and a transaction tax.
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