December 29, 2008

The economy dominated virtually every aspect of business news in Iowa in 2008. Personal finance, corporate planning, even the outcome of the election were influenced by the economic meltdown.

It began in the spring with the recognition that the housing bubble had burst. The collapse gained speed as the scope of the problem became clear in succeeding months. The culprits included inappropriate subprime loans, bad lending decisions based on lax credit standards and unconscionable sales incentives.