Dhaka, Feb. 13 -- The global financial sector and economic recession started in 2007 which was mainly due to the housing bubble.

Added to this was an aggressive risky lending regime in the US sub-prime mortgage market and lax regulation of the financial sector.

This start of recession in the financial sector and the economy spread to all those industries that were directly or indirectly associated with the risky transactions of the financial sector.

The first signs of trouble appeared in 2007. But rather than addressing these symptoms, policies were adopted that widened and deepened the problem, leading to the global economic recession of late 2008.

The economic recession automatically spreads across the world very quickly although th...