Explain the macroeconomic variables that surrounded that event. For example, what was GDP, etc, during that time? What factors caused the event? Did the U.S. Government do anything to intervene to help lessen the severity of the crisis, and if so, what did it do and what was the outcome? Did the event affect U.S. politics and/or Presidential campaigns, and if so, how? Did the crisis affect any other countries, and if so, how?
Provide any additional details that are unique to the recession you chose as well.