History is made up of many moments, some of which are more positive than others. This brings us to the crises in finance that have had lasting impacts. Furthermore, many of these events are taught in schools and universities, which means that their importance won't be lost anytime soon. For those that would like to learn more, here are 4 notable crises in finance that the likes of Robert Jain can tell you about.
Dotcom Crash - During the late 90s to the early aughts, the dotcom crash took place during a period where technology was steadily growing. Due to this, there have been many Internet-based companies that began. Many of them couldn't sustain themselves, however, and they were forced to close. In fact, the stock of many large establishments drastically decreased. This stands as one of the greatest financial crises in the eyes of names like Bob Jain.
Wall Street Crash - It is known by many names, Black Tuesday included, but the Wall Street Crash of 1929 remains an imperative moment in financial history. During this time, the stock market hit its lowest point ever. Not only did this moment impact people with stakes in said market, but families as well. Keep in mind that, during this time, approximately 30 of the workforce became unemployed. It should also be noted that the Wall Street Crash would eventually lead to the Great Depression, which will be touched on soon.
Global Financial Crisis - Otherwise known as the 2008 financial crisis, the global financial crisis is often seen as the second-biggest monetary blunder in the world. For those that don't know, during this period, banks weren't as regulated as they are now. Banks took what can now be seen as unnecessary risks, and it would eventually lead to a recession. Despite this impact, it doesn't stand as the single biggest crisis in the financial world.
Great Depression - Many experts cite the Great Depression as the greatest financial crisis in history, and for good reason. Following the Wall Street Crash, the United States entered an economic depression in 1929 that would last for a decade. Unemployment increased to 25 percent across the company, and those that had their jobs saw their pay either plateau or decrease. When Franklin D. Roosevelt, the U.S. President at the time, signed the New Deal, the economy began to improve.
Dotcom Crash - During the late 90s to the early aughts, the dotcom crash took place during a period where technology was steadily growing. Due to this, there have been many Internet-based companies that began. Many of them couldn't sustain themselves, however, and they were forced to close. In fact, the stock of many large establishments drastically decreased. This stands as one of the greatest financial crises in the eyes of names like Bob Jain.
Wall Street Crash - It is known by many names, Black Tuesday included, but the Wall Street Crash of 1929 remains an imperative moment in financial history. During this time, the stock market hit its lowest point ever. Not only did this moment impact people with stakes in said market, but families as well. Keep in mind that, during this time, approximately 30 of the workforce became unemployed. It should also be noted that the Wall Street Crash would eventually lead to the Great Depression, which will be touched on soon.
Global Financial Crisis - Otherwise known as the 2008 financial crisis, the global financial crisis is often seen as the second-biggest monetary blunder in the world. For those that don't know, during this period, banks weren't as regulated as they are now. Banks took what can now be seen as unnecessary risks, and it would eventually lead to a recession. Despite this impact, it doesn't stand as the single biggest crisis in the financial world.
Great Depression - Many experts cite the Great Depression as the greatest financial crisis in history, and for good reason. Following the Wall Street Crash, the United States entered an economic depression in 1929 that would last for a decade. Unemployment increased to 25 percent across the company, and those that had their jobs saw their pay either plateau or decrease. When Franklin D. Roosevelt, the U.S. President at the time, signed the New Deal, the economy began to improve.
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