Discussion Topic: Discuss the reasons underlying the global financial crisis that started in 2007. In particular, what was the role of mortgage backed securities in precipitating this crisis?
Readings:
- Appendix to Chapter 1
- The Credit Crunch of 2007-08: A discussion of the background, market reactions and policy responses (FRB - St. Louis)
Videos:
House of Cards: America's Mortgage Meltdown : https://mtrproxy.mnpals.net/login?url=https://fod.infobase.com/PortalPlaylists.aspx?wID=103912&xtid=40551
Mortgage Meltdown: A Primer on America's Subprime Crisis:https://mtrproxy.mnpals.net/login?url=https://fod.infobase.com/PortalPlaylists.aspx?wID=103912&xtid=39708