Global Studies
The subprime mortgage crisis was a financial crisis that occurred in the mid-2000s, characterized by a high rate of mortgage delinquencies and foreclosures, primarily among borrowers with weak credit histories. This crisis emerged due to the widespread issuance of high-risk mortgages to subprime borrowers, fueled by financial institutions' practices and the housing bubble, leading to severe repercussions in global financial markets and institutions.
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