A financial crisis occurs when a particular large disruption to information flows occurs in the financial market.  The financial crisis of 2007 started in the United States and spread around the world but it did not lead to a depression because of the aggressive central bank action.  In a paper of 1200-1500 you are required to:

1. Discuss the crisis of 2007-2009 in USA and compare it with the Great Depressionin 1929.  Inyour discussion identify the factors that triggered both crises?

2. President Obama prevented the financial crisis of 2007 and 2009 from becoming a depression? Explain how he achieved this.

3. Canadian was less affected by the financial crisis of 2007-2009, why?

4. Currently house prices in Toronto has increased significantly over the last year, argue two contributing factors, is it a bubble like USA 2007 crisis and so far what has Canadian government done to fix this surge in house prices and is it working?

5. What would be you recommendation to the Canadian government?

6. Research Citations (In-text citations for paraphrasing and direct quotes, and reference page listing and formatting, as appropriate to assignment and style)

7. Mechanics of Writing (includes spelling, punctuation, grammar, language use)