The Impact of the US Subprime Mortgage Crisis

The subprime mortgage crisis has a huge impact on American society, it makes a lot of countries get into financial crisis too. A lot of countries economy goes downturn. It is due to the lack of supervision of the U.S. financial industry, and with the need for rapid economic recovery, led to the financial crisis in the later years, and the U.S. economy fell into negative growth. Subsequently, the U.S. strengthened the supervision of the financial market in order to restore the U.S. economy. The significance of this article is to analyze the economic impact of subprime mortgages on the United States and to study some wrong policies behind the prosperous U.S. economy. The policy which commended by this article are that the national economic development should not focus on the short-term, but on longterm development. Loans should be given to small and medium-sized enterprises to promote the progress of social and economic development.