Download or read book The Subprime Mortgage Crisis and Credit Crunch in the United States Causes and Consequences written by Lenka Svobodová and published by . This book was released on 2008 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book The causes and the consequences of the subprime mortgage financial crisis in the United States of America written by Victoria Adovskaya and published by . This book was released on 2008 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Crisis Management and the Pursuit of Power written by Mine Aysen Doyran and published by Routledge. This book was released on 2016-12-05 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does America manage crisis on behalf of international finance in the absence of a global state? Doyran explores the relationship between state power and global finance and in particular examines the various attempts by the US state at financial crisis management. The case studies highlight the dramatic consequences of the rise of financial capitalism in the US economy, and also explore regulatory sources of market failures, systemic risk and moral hazard. This book focuses on this primary issue facing scholars of American power in various social science disciplines, including political science, finance and international relations, professional financial analysts and Government officials. This book is for the critical reader who is interested in financial policy and wants to learn more about the causes and consequences of the rise of financial markets.
Download or read book How I Caused the Credit Crunch written by Tetsuya Ishikawa and published by Icon Books Ltd. This book was released on 2009-04-16 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a vivid and personal account of 21st century banking excess. "How I Caused the Credit Crunch" traces seven years at the forefront of the credit markets - a tale from the heart of the bewildering banking maelstrom whose catastrophic collapse has plunged the world towards the worst recession since the 1930s. Tetsuya Ishikawa's story reveals how a young Oxford graduate finds himself in command of vast sums of other people's money; how a novice to the mysteries of hedge funds, subprime mortgages and CDOs can fix complex deals for billions of dollars in the exclusive bars, brothels and trading floors of London, New York, Frankfurt and Tokyo, and reap the benefits in a colossal annual bonus and an international luxury lifestyle. Ishikawa's book, which deftly explains the arcane financial instruments now grimly associated with the credit crunch, is both a powerful tale of lost innocence and an expose of the disturbing truth of the collective folly, frailty and greed at the heart of the banking crisis.
Download or read book The National Homeownership Strategy written by United States. Department of Housing and Urban Development and published by . This book was released on 1995 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The impact of the Subprime Crisis on European Banks written by Jan-Frederik Modell and published by diplom.de. This book was released on 2008-04-22 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: The US subprime-crisis became a headline in the global media starting in February 2007 after the US housing market had already shown first signs of a slowdown in late 2006. Previously, the US housing market had enjoyed a favorable environment, especially from 2002 to 2005, which was characterized by low interest rates, rising house values, and increasing home financing possibilities through subprime mortgages. However, more and more events were published during the year by US mortgage brokers, international investment banks, and central banks around the world that presented a picture which caused today s perception of the subprime-crisis. What s more, the subprime-crisis is far from being over: an end to the crisis is not yet in sight. One rather unique characteristic of this crisis is that its actual basis is the delinquencies and defaults of subprime single-family home mortgages in the US which is commonly not regarded to be of great relevance for the international capital markets. However, taking into account the originate and distribute business model of US mortgage brokers in connection with the securitization of these mortgages into various types of securities that are traded on a global basis, it is not surprising to observe that banks and investment funds around the world were invested into these securities. Before the crisis started, only a few banks or funds considered the liquidity of these securities when investing significant amounts of money in them because they focused on maximizing their returns. But, when larger problems in the US subprime mortgage market became evident, liquidity became the major concern for investors and investor preferences significantly shifted to safer assets such as government bonds. This caused severe problems in the money market, which ultimately brought the crisis across the Atlantic to Europe. Moreover, funding problems emerged and caused the first bank run in Europe in decades when depositors in Britain started to queue outside Northern Rock branches for hours to withdraw their deposits in light of fears that the bank might have to file for bankruptcy. In addition, another British bank had been in the spotlight earlier that year because HSBC was the first European bank to announce a billion dollar write-off linked to its exposure to subprime mortgages. Taking into consideration the subprime-crisis-related events in Europe, the British banking market can be characterized as the [...]
Download or read book Old Wine in New Bottles written by Michael Lim Mah-Hui and published by . This book was released on 2008 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper seeks to explain the causes and consequences of the U.S. subprime mortgage crisis and how this has led to a generalized credit crunch in other financial sectors that ultimately affects the real economy. It postulates that despite the recent financial innovations, the financial strategies - leveraging and funding mismatch - that led to the present crisis are similar to those found in the U.S. savings and loans debacle of the late 80s and in the Asian financial crisis of the late 90s. However, these strategies contain new innovations that have heightened, not reduced, systemic risks and financial instability. They are as the title implies: old wine in new bottle. Going beyond these financial practices, the underlying structural causes of the crisis are located in the loose monetary policies of central banks, deregulation, and excess liquidity in financial markets that are a consequence of the kind of economic growth that produces various imbalances - trade imbalance, financial sector imbalance, and wealth and income imbalance. The consequences on risks, moral hazards and rolling bubbles are discussed.
Download or read book Old Wine in a New Bottle written by Michael Lim Mah-Hui and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper seeks to explain the causes and consequences of the U.S. subprime mortgage crisis, and how this crisis has led to a generalized credit crunch in other financial sectors that ultimately affects the real economy. It postulates that, despite the recent financial innovations, the financial strategies leveraging and financial risk mismatching that led to the present crisis are similar to those found in the U.S. savings-and-loan debacle of the late 1980s and in the Asian financial crisis of the late 1990s. However, these strategies are based on market innovations that have heightened, not reduced, systemic risks and financial instability. They are as the title implies: old wine in a new bottle. Going beyond these financial practices, the underlying structural causes of the crisis are located in the loose monetary policies of central banks, deregulation, and excess liquidity in financial markets that is a consequence of the kind of economic growth that produces various imbalances trade imbalances, financial sector imbalances, and wealth and income inequality.
Download or read book Crisis and Response written by Federal Deposit Insurance Corporation and published by . This book was released on 2018-03-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.
Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.
Download or read book Financial Crises Explanations Types and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Download or read book Subprime Crisis The Lessons For Business Students written by Jaime Perez Luque and published by World Scientific. This book was released on 2017-02-16 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first major global economic contraction of the 21st century, or the 'Great Recession', as it is more commonly known, began in December of 2007, and would prove to be one of the most catastrophic economic events in postmodern history. The bursting of the American housing bubble and the subprime mortgage crisis that followed are widely attributed as being the primary causes for this economic downturn.The content of this book presents an in-depth analysis of several of the leading causes of the subprime crisis, as well as the subsequent measures that were used to contain a widespread economic recession. It is the aim of this book to provide adequate information and tools for readers to gain insight on how we can prevent the same mistakes from happening again. This analysis also explores an interesting question when considering public policy; was the economic disaster, that ensued, caused by overzealous consumers who borrowed more than they could afford, or was it caused by institutional entities that gambled away the American economy?
Download or read book Us Subprime Crisis to What Extent Can You Safeguard Financial System Risks written by L. H. Jansen and published by GRIN Verlag. This book was released on 2008 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2008 in the subject Economics - Finance, grade: 1,7, University of Applied Sciences Essen, course: General Economics, 94 entries in the bibliography, language: English, abstract: The subprime mortgage financial crisis is an ongoing financial crisis which was caused by the sharp rise in the US subprime mortgage market that began in the United States in fall 2006 and became to a global financial crisis in July 2007. Rising interest rates increased the monthly payments on newly-popular adjustable rate mortgages and property values suffered declines from the demise of the US housing bubble, leaving home owners unable to meet financial commitments and lenders without a means on their losses. Many observers believe this has resulted in a severe credit crunch, threatening the solvency of a number of financial institutions and marginal banks. Declines in stock markets worldwide, several worthless hedge funds, central bank interventions, contractions of retail profits and bankruptcy of several mortgage lenders are some of the results we saw in this subprime crisis. The crisis was caused by several reasons, e. g. the developments on the US housing market, the insolvency of many American loan takers, the absence of appropriate diligence of the financial institutions and within the created financial assets, the delayed intervention of the regulating authorities and the activities of the rating agencies while evaluating the credit derivatives and securitizations. The theoretical optimum for an investment is a high return without any risk and without loosing liquidity. The real situation shows that an investor has to match these three points optimal for his own investment strategy. A higher return is always linked to a higher risk and increased uncertainty. And if the money is expended the investor looses a part of his liquidity. Credit derivatives and securitizations are used to separate the risk of credits from the original credit relation. These in
Download or read book Effects of the Subprime Mortgage Crisis in New York City and Efforts to Help Struggling Homeowners written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2008 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Subprime Solution written by Robert J. Shiller and published by Princeton University Press. This book was released on 2012-09-24 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential account of the historic subprime mortgage crisis, from the Nobel Prize–winning economist and bestselling author of Irrational Exuberance The subprime mortgage crisis has already wreaked havoc on the lives of millions of people and now it threatens to derail the U.S. economy and economies around the world. In this trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response—a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy. Shiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bubbles—in stocks in the 1990s and in housing between 2000 and 2007. He shows how these bubbles led to the dangerous overextension of credit now resulting in foreclosures, bankruptcies, and write-offs, as well as a global credit crunch. To restore confidence in the markets, Shiller argues, bailouts are needed in the short run. But he insists that these bailouts must be targeted at low-income victims of subprime deals. In the longer term, the subprime solution will require leaders to revamp the financial framework by deploying an ambitious package of initiatives to inhibit the formation of bubbles and limit risks, including better financial information; simplified legal contracts and regulations; expanded markets for managing risks; home equity insurance policies; income-linked home loans; and new measures to protect consumers against hidden inflationary effects. This powerful book is essential reading for anyone who wants to understand how we got into the subprime mess—and how we can get out.
Download or read book Credit Crunch and Insurance Consumption written by Shinichi Kamiya and published by . This book was released on 2015 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using cross-state panel auto insurance premium data from 2007 to 2012 in the U.S., this study provides evidence that individual purchases of private auto insurance were excessively reduced during and after the U.S. subprime mortgage. Analyses show that the credit crunch triggered by a shock in house prices was a major contributing factor of the reduced consumption of auto insurance during and after the crisis. This result is robust even after controlling for associated factors such as insurance prices, personal spending on vehicles and general consumption, recession indicators and the use of alternative transportation. Tests also find that a drop in house prices was also related to the deterioration of underwriting performance. These findings provide evidence for a real effect of the banking crisis.
