What was the mortgage crisis of 2008-2009?

What are similarities and differences between current mortgage crisis and that of during the great depression?

• I am doing a reading, and it would be of great help, if you guys could provide some of these answers. cheers Discuss the similarities and differences between the contraction of the housing market during the Great Depression and the current mortgage crisis. In both periods, the contraction of the housing market resulted in severe strains on the financial system. Discuss the different federal responses to the housing market crisis during both times periods. Does the outcome of the federal response to the housing crisis of the 1930’s offer any lessons to policy makers who are now grappling with the current crisi

• Answer:

  i can chat with you on this, to do it justice would take about 1 week. however.......during the GREAT depression, the gov did not have in place, insurance and protection for the buyer. During the depression, those who were skimming could hide more easily [no Sarbannes /Oxley] Those who shorted during the GP made money, those who did not, lost. Same today I could go on but I am not here to lecture, only answer your questions.