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The United States Financial Crisis Last week, the United States witnessed in succession the downward and near collapse of the financial markets since the early 20th Century. Although, indicators were ripe on the imminent collapse of the market, the slow intervention of the federal government caused serious economic damage which have affected Asia, Africa and other financial markets. This has resulted in the world financial crisis with most governments trying to intervene to safe the situation. The United states has injected more than $700 Billion to turn the crisis around as a bailout. The effect of this is the gradual but slow picking up of the financial market. Some analysts still believes that the worst is yet to come and the US economic recession is a forgone conclusion. The effects of the United States present financial crisis are numerous: the American taxpayers will feel the crunch more, the world economy will stagnate and the BIGGEST of all problems; a biggest challenge for the next president of America. A stitch in time saves nine.

Contributed by LATEEF ADEKUNLE on September 22, 2008, at 8:28 AM UTC.

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