Inside Job
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The documentary "Inside Job" examines the 2008 global financial crisis over five parts: (1) how the crisis began through deregulation and risky financial practices, (2) the housing bubble, (3) the crisis and collapse, (4) lack of accountability as executives were paid bonuses, and (5) ongoing economic weaknesses. Directed by Charles Ferguson, it won the 2011 Oscar for best documentary and critiques the roles of banks, credit agencies, government officials, and economists in igniting and failing to prevent the crisis.
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Inside job
The documentary Inside Job examines the 2008 financial crisis. It analyzes the changes in the financial industry that led to the crisis, including political moves toward deregulation. This allowed large risks to be taken and regulations to be circumvented. The crisis began with rampant lending and investing on Wall Street. Banks financed subprime mortgages and mortgage-backed securities became very profitable. However, the housing prices were inflated in a bubble that eventually burst in 2006-2007 when homeowners began defaulting on loans. Despite signs of growing risks, regulators refused to intervene and the financial system crisis ensued in 2008.
Inside job-movie review-corporate governance
Review of the movie Inside Job to understand the various concepts in corporate governance which are emphasized in the movie
The Economic Crisis of 2008 (US Housing Bubble) - Inside Job Movie
This document clearly narrates the events that led to the economic crisis of 2008 resulting in a global recession. In 2008, many global banks collapsed and had to be bailed out by the US government.
Inside job 2011...
The document discusses the 2008 financial crisis and the role of AIG. It explains that AIG sold credit default swaps to insure collateralized debt obligations (CDOs), effectively taking on insurance risks without sufficient reserves. This led AIG to require a government bailout when the housing market collapsed and many CDOs failed. The document also discusses the roles of other institutions like Lehman Brothers, Morgan Stanley, and Goldman Sachs in selling toxic assets and profiting until the crisis hit. Rating agencies are criticized for giving high ratings that did not accurately capture risk.
Causes and Effects of Failure
The failure of Lehman Brothers in 2008 was the largest bankruptcy in US history. A number of factors contributed to its failure, including excessive risk taking on housing assets, high leverage, and unethical actions. When housing markets declined, Lehman's vulnerable financial position was exposed and it collapsed, with global economic effects. The replacement of the Glass-Steagall Act allowed greater risk taking and conflicts of interest, which also contributed to Lehman's downfall.
Fall Of Lehman Brother
The document provides an overview of the downfall of Lehman Brothers, which filed for Chapter 11 bankruptcy in September 2008. It discusses several factors that contributed to Lehman Brothers' collapse, including the US housing bubble and subprime mortgage crisis, Lehman's high leverage and reliance on short-term funding, and flaws in risk management practices. After Lehman filed for bankruptcy, parts of its business were acquired by Barclays and Nomura. The collapse had widespread effects on financial markets and the global economy.
AIG Risk Analysis
American International Group (AIG) was once considered a "Financial Fortress" but suffered massive losses during the 2008 financial crisis. AIG wrote credit default swaps covering over $440 billion in bonds without adequately assessing risk. It also invested cash from securities lending in risky real estate assets. These positions became untenable when the housing market collapsed, forcing an $182 billion government bailout. AIG's crisis stemmed from ignoring correlation risk across its products and misjudging the risks of its business lines.
Lehman Brothers - Collapse and Bankruptcy
The document summarizes the collapse of Lehman Brothers, the largest bankruptcy in U.S. history. It provides background on Lehman Brothers and describes how the company grew in the 1990s-2000s through real estate lending. It then explains how the bursting of the real estate bubble in the late 2000s led to increased mortgage defaults that Lehman Brothers was unable to cover, ultimately forcing it to file for Chapter 11 bankruptcy protection on September 15, 2008, with $691 billion in assets. The collapse had major global impacts and significantly exacerbated the late-2000s financial crisis.
Recommended
Inside job
The documentary Inside Job examines the 2008 financial crisis. It analyzes the changes in the financial industry that led to the crisis, including political moves toward deregulation. This allowed large risks to be taken and regulations to be circumvented. The crisis began with rampant lending and investing on Wall Street. Banks financed subprime mortgages and mortgage-backed securities became very profitable. However, the housing prices were inflated in a bubble that eventually burst in 2006-2007 when homeowners began defaulting on loans. Despite signs of growing risks, regulators refused to intervene and the financial system crisis ensued in 2008.
Inside job-movie review-corporate governance
Review of the movie Inside Job to understand the various concepts in corporate governance which are emphasized in the movie
The Economic Crisis of 2008 (US Housing Bubble) - Inside Job Movie
This document clearly narrates the events that led to the economic crisis of 2008 resulting in a global recession. In 2008, many global banks collapsed and had to be bailed out by the US government.
Inside job 2011...
The document discusses the 2008 financial crisis and the role of AIG. It explains that AIG sold credit default swaps to insure collateralized debt obligations (CDOs), effectively taking on insurance risks without sufficient reserves. This led AIG to require a government bailout when the housing market collapsed and many CDOs failed. The document also discusses the roles of other institutions like Lehman Brothers, Morgan Stanley, and Goldman Sachs in selling toxic assets and profiting until the crisis hit. Rating agencies are criticized for giving high ratings that did not accurately capture risk.
Causes and Effects of Failure
The failure of Lehman Brothers in 2008 was the largest bankruptcy in US history. A number of factors contributed to its failure, including excessive risk taking on housing assets, high leverage, and unethical actions. When housing markets declined, Lehman's vulnerable financial position was exposed and it collapsed, with global economic effects. The replacement of the Glass-Steagall Act allowed greater risk taking and conflicts of interest, which also contributed to Lehman's downfall.
Fall Of Lehman Brother
The document provides an overview of the downfall of Lehman Brothers, which filed for Chapter 11 bankruptcy in September 2008. It discusses several factors that contributed to Lehman Brothers' collapse, including the US housing bubble and subprime mortgage crisis, Lehman's high leverage and reliance on short-term funding, and flaws in risk management practices. After Lehman filed for bankruptcy, parts of its business were acquired by Barclays and Nomura. The collapse had widespread effects on financial markets and the global economy.
AIG Risk Analysis
American International Group (AIG) was once considered a "Financial Fortress" but suffered massive losses during the 2008 financial crisis. AIG wrote credit default swaps covering over $440 billion in bonds without adequately assessing risk. It also invested cash from securities lending in risky real estate assets. These positions became untenable when the housing market collapsed, forcing an $182 billion government bailout. AIG's crisis stemmed from ignoring correlation risk across its products and misjudging the risks of its business lines.
Lehman Brothers - Collapse and Bankruptcy
The document summarizes the collapse of Lehman Brothers, the largest bankruptcy in U.S. history. It provides background on Lehman Brothers and describes how the company grew in the 1990s-2000s through real estate lending. It then explains how the bursting of the real estate bubble in the late 2000s led to increased mortgage defaults that Lehman Brothers was unable to cover, ultimately forcing it to file for Chapter 11 bankruptcy protection on September 15, 2008, with $691 billion in assets. The collapse had major global impacts and significantly exacerbated the late-2000s financial crisis.
AIG - The Fallen Giant
American International Group (AIG) failed due to excessive risk taking in credit default swaps without proper collateral or oversight. AIG's Financial Products unit sold over $2.7 trillion in swaps and could not pay out when the housing market collapsed. AIG exploited gaps in regulation and lacked oversight of its risky activities. When credit ratings declined and losses mounted, AIG required an $85 billion government bailout to avoid bankruptcy.
The reasons of 2008 Financial Crisis
The document summarizes the causes and effects of the 2008 financial crisis. It identifies low interest rates, lack of regulations, risky subprime lending, securitization of mortgages, and conflicts of interest between banks, rating agencies, and borrowers as contributing factors. Major effects included destruction of wealth, rising poverty, job losses, increased food stamp usage, and a domino effect of bank failures exacerbating the crisis. The crisis disproportionately hurt the poor and middle class while concentrating more wealth among the richest 1%.
AIG: The Missing Piece of Its Failure Narrative & Why It Matters
The failure of American International Group Inc. was one of the main narratives from the financial crisis, prompting the push for greater financial market regulation and the adoption of Dodd-Frank. But what if the generally accepted account—that AIG’s supposedly unregulated derivatives activities sank the company—doesn’t actually tell the full story?
Global Financial Crisis (2007 - 2009)
[SERIES 4/4] The Global Financial Crisis (2007 - 2009)
from the Frederic Mishkin's The Economics of Money, Banking, and Financial Markets
Financial Crises on Advanced Economies Chapter
Outline:
SERIES 1: Factors Causing Financial Crises
SERIES 2: Dynamics of Financial Crises in Advanced Economies
Series 3: The Great Depression
SERIES 4: The Global Financial Crisis of 2007 - 2009 (The Great Recession)
Other Sources:
The Causes and Effects of the 2008 Financial Crisis
https://www.youtube.com/watch?v=N9YLta5Tr2A
Lehman brothers
On September 15, 2008, Lehman Brothers Holdings Inc filed for bankruptcy. It filed for protection under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. It filed with $639 billion in assets and $619 billion in debt, Lehman's bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron. Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000 employees worldwide.
Fall of lehman brothers
Short presentation on fall of the 4th biggest investment bank firm in United States during the period of financial crisis in 2008 which ultimately started recession in Unites States Of America and subsequent impact on whole world of economy.
The inside job
The document summarizes key points from an assignment on the 2010 film "The Inside Job" about the 2008 global financial crisis. It discusses how credit default swaps contributed to the crisis by insuring collateralized debt obligations (CDOs) and allowing banks to bet against CDOs they sold. It notes four regulatory gaps: deregulation of financial institutions, political capture by financial lobbies, lack of oversight of risky bank activities, and failure to learn from previous crises. It also discusses how human behaviors like overconfidence and greed exacerbated the crisis. The response proposes establishing a financial stability commission, imposing limits on borrowing to curb overleveraging, strengthening consumer protections, and reforming executive compensation to prevent future crises
Worldcom scandal
WorldCom started as a small long distance provider in 1983 and grew rapidly through acquisitions to become the second largest telecom company by 1998. However, falling revenues due to the dot-com bust and merger failures led to huge pressure to meet Wall Street expectations. WorldCom's leaders, including CEO Ebbers, resorted to fraudulent accounting by misclassifying operating expenses as capital expenditures, hiding $3.8 billion in losses. An internal audit uncovered the fraud in 2002, leading to WorldCom filing for bankruptcy, destroying $180 billion in shareholder value and costing 57,000 employees their jobs. Ebbers and other executives faced legal consequences for their role in the massive accounting scandal.
Lehman brothers
The document summarizes the bankruptcy of Lehman Brothers, the largest bankruptcy in history. It provides background on Lehman Brothers and how they grew to become a major global financial firm primarily focused on real estate and mortgage-backed securities. It then describes how Lehman Brothers hid over $50 billion in loans, massively overleveraged themselves, and ultimately went bankrupt during the financial crisis in 2008. Their bankruptcy had massive ripple effects globally and cost millions of people their jobs and investments. Investigations into their accounting practices continued after the bankruptcy.
Lehman Brothers Bankruptcy
Founded in 1850, Lehman Brothers filed for bankruptcy in 2008 due to its overexposure to subprime mortgages through securitization and derivatives trading. Its collapse exacerbated the global financial crisis and had far-reaching consequences. Money market funds broke the buck due to Lehman losses. Lehman's $639 billion in assets and $613 billion in debt overwhelmed the bankruptcy system. Its failure devastated the financial industry and significantly deepened the worldwide economic recession.
Aig fraud accounts (1)
American International Group (AIG) was once one of the largest insurance companies in the world but suffered a massive downfall due to fraudulent accounting practices. AIG leadership recorded loans as revenue and hid losses in financial statements to inflate profits. This led to an SEC investigation and the firing of the CEO and CFO. The fraud further exposed AIG's poor risk management in areas like credit derivatives, which became insolvent in the financial crisis. The US government was forced to bail out AIG with $182 billion to prevent global economic collapse. The scandal resulted in huge losses for AIG and eroded investor and public trust in the company.
Lehman Brothers fall
Lehman Brothers accumulated a large portfolio of risky mortgage-backed securities and high levels of debt through acquisitions in the mid-2000s. By 2007, Lehman underwrote more mortgage securities than any other firm and had a leverage ratio of 31 to 1. In September 2008, Lehman declared bankruptcy after reporting large losses, wiping out over $46 billion in market value. Lehman's collapse intensified the 2008 financial crisis and contributed to a loss of nearly $10 trillion in global equity markets. The bankruptcy froze the commercial paper market, and the federal government had to implement guarantees and programs to stabilize money market funds and restart lending.
Why Lehman Bros Went Bust!!
The document summarizes the collapse of Lehman Brothers investment bank in September 2008. It provides background on Lehman Brothers and explains the key reasons for its bankruptcy, including losses from subprime mortgage loans, a lack of confidence from other banks, and the refusal of potential acquirers like Barclays. The CEO's pride and refusal to sell at a lower price were also factors. The fall of Lehman Brothers and Merrill Lynch's acquisition by Bank of America shocked markets and increased uncertainty about other financial institutions like AIG and Washington Mutual. The events also increased risk perceptions in Indian markets.
US HOUSING SCAM 2008
The US recession of 2008 was caused by the collapse of the housing bubble fueled by predatory lending practices and deregulation of the financial industry. Subprime mortgages were provided to borrowers who could not afford them, and these risky loans were repackaged and sold as secure investments. When borrowers began to default, the value of these investments collapsed, triggering a global financial crisis as major banks and institutions faced huge losses. The recession had widespread impact around the world and governments spent trillions bailing out failing banks.
Lehman Brothers - Corporate Governance
Lehman Brothers Corporate Governance Mishap that brought about their downfall during the Sub prime crisis of 2008
Presentation - Global financial crisis 2008
The document provides an overview of the global financial crisis of 2008. It describes how the crisis originated from the subprime mortgage crisis in the United States, where risky lending practices led to many homeowner defaults which subsequently impacted financial institutions globally. As asset prices fell and credit markets froze, there were banking failures across Europe and a global recession ensued, with rising unemployment and declines in GDP and stock prices around the world. India was also impacted via slowing economic growth, though its financial system had less direct exposure than Western nations.
The last days of lehman brothers
Lehman Brothers was considered "too big to fail" but failed on September 15, 2008, marking the largest bankruptcy filing in U.S. history. The document outlines Lehman Brothers' history from 1850 to 2008, including its expansion through acquisitions. It discusses the factors that led to Lehman Brothers' collapse, including losses from the subprime mortgage crisis, high leverage, and liquidity issues. The collapse had widespread impacts, including job losses, falling stock prices, and tightened credit. Lessons included debunking the myth that a company could be "too big to fail" and the need for prudent risk management and regulations.
The rise and fall of Lehman brother
Lehman Brothers was a global investment bank that filed for bankruptcy in 2008 due to excessive risk taking and overexposure to subprime mortgages. Some key factors that contributed to its failure included being highly leveraged with a debt-to-equity ratio of 31 in 2007, risky investments in the housing market, weak corporate governance and oversight of risk, and a compensation system that rewarded short-term gains without accountability for losses. The bankruptcy filing had widespread global impacts, including job losses, reduced company profits, increased borrowing costs, and loss of wealth for investors.
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SVB (Silicon Valley Bank) experienced financial difficulties due to macroeconomic conditions and risks in its investment portfolio. As startups had excess cash and did not need loans, SVB invested heavily in government bonds. However, rising interest rates caused the value of these bonds to fall. SVB then faced a "bank run" as customers withdrew deposits, forcing SVB to seek an emergency $2 billion funding increase. The failure of SVB could significantly impact startups and their access to capital.
Chapter 15
This document provides an overview of chapter 15 from the textbook "Financial Markets and Institutions". The chapter discusses the foreign exchange market and factors that influence exchange rates. It begins with an introduction to the foreign exchange market and currencies traded. It then covers exchange rates in the long run and short run, using concepts like purchasing power parity and interest rate parity. The chapter analyzes how exchange rates are determined by supply and demand in markets. It also examines factors that can cause exchange rates to fluctuate, such as changes in interest rates, inflation expectations, and macroeconomic performance between countries.
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Collapse of the US Financial System in 2008 v2
The 2008 collapse of the U.S. financial system was precipitated by a housing bubble fueled by easy credit and risky lending practices. As housing prices declined sharply from their 2006 peak, millions of homeowners defaulted on mortgages. This caused the failure of major financial institutions like Lehman Brothers and placed firms like AIG and Fannie Mae in financial peril, ultimately requiring government intervention. Widespread use of complex financial instruments like derivatives and CDOs further amplified systemic risks in the absence of proper oversight. The crisis had devastating economic impacts worldwide and revealed critical shortcomings in regulation of the financial industry.
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The reasons of 2008 Financial Crisis
The document summarizes the causes and effects of the 2008 financial crisis. It identifies low interest rates, lack of regulations, risky subprime lending, securitization of mortgages, and conflicts of interest between banks, rating agencies, and borrowers as contributing factors. Major effects included destruction of wealth, rising poverty, job losses, increased food stamp usage, and a domino effect of bank failures exacerbating the crisis. The crisis disproportionately hurt the poor and middle class while concentrating more wealth among the richest 1%.
AIG: The Missing Piece of Its Failure Narrative & Why It Matters
The failure of American International Group Inc. was one of the main narratives from the financial crisis, prompting the push for greater financial market regulation and the adoption of Dodd-Frank. But what if the generally accepted account—that AIG’s supposedly unregulated derivatives activities sank the company—doesn’t actually tell the full story?
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from the Frederic Mishkin's The Economics of Money, Banking, and Financial Markets
Financial Crises on Advanced Economies Chapter
Outline:
SERIES 1: Factors Causing Financial Crises
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Series 3: The Great Depression
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Other Sources:
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Lehman brothers
On September 15, 2008, Lehman Brothers Holdings Inc filed for bankruptcy. It filed for protection under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. It filed with $639 billion in assets and $619 billion in debt, Lehman's bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron. Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000 employees worldwide.
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The document summarizes key points from an assignment on the 2010 film "The Inside Job" about the 2008 global financial crisis. It discusses how credit default swaps contributed to the crisis by insuring collateralized debt obligations (CDOs) and allowing banks to bet against CDOs they sold. It notes four regulatory gaps: deregulation of financial institutions, political capture by financial lobbies, lack of oversight of risky bank activities, and failure to learn from previous crises. It also discusses how human behaviors like overconfidence and greed exacerbated the crisis. The response proposes establishing a financial stability commission, imposing limits on borrowing to curb overleveraging, strengthening consumer protections, and reforming executive compensation to prevent future crises
Worldcom scandal
WorldCom started as a small long distance provider in 1983 and grew rapidly through acquisitions to become the second largest telecom company by 1998. However, falling revenues due to the dot-com bust and merger failures led to huge pressure to meet Wall Street expectations. WorldCom's leaders, including CEO Ebbers, resorted to fraudulent accounting by misclassifying operating expenses as capital expenditures, hiding $3.8 billion in losses. An internal audit uncovered the fraud in 2002, leading to WorldCom filing for bankruptcy, destroying $180 billion in shareholder value and costing 57,000 employees their jobs. Ebbers and other executives faced legal consequences for their role in the massive accounting scandal.
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The document summarizes the bankruptcy of Lehman Brothers, the largest bankruptcy in history. It provides background on Lehman Brothers and how they grew to become a major global financial firm primarily focused on real estate and mortgage-backed securities. It then describes how Lehman Brothers hid over $50 billion in loans, massively overleveraged themselves, and ultimately went bankrupt during the financial crisis in 2008. Their bankruptcy had massive ripple effects globally and cost millions of people their jobs and investments. Investigations into their accounting practices continued after the bankruptcy.
Lehman Brothers Bankruptcy
Founded in 1850, Lehman Brothers filed for bankruptcy in 2008 due to its overexposure to subprime mortgages through securitization and derivatives trading. Its collapse exacerbated the global financial crisis and had far-reaching consequences. Money market funds broke the buck due to Lehman losses. Lehman's $639 billion in assets and $613 billion in debt overwhelmed the bankruptcy system. Its failure devastated the financial industry and significantly deepened the worldwide economic recession.
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American International Group (AIG) was once one of the largest insurance companies in the world but suffered a massive downfall due to fraudulent accounting practices. AIG leadership recorded loans as revenue and hid losses in financial statements to inflate profits. This led to an SEC investigation and the firing of the CEO and CFO. The fraud further exposed AIG's poor risk management in areas like credit derivatives, which became insolvent in the financial crisis. The US government was forced to bail out AIG with $182 billion to prevent global economic collapse. The scandal resulted in huge losses for AIG and eroded investor and public trust in the company.
Lehman Brothers fall
Lehman Brothers accumulated a large portfolio of risky mortgage-backed securities and high levels of debt through acquisitions in the mid-2000s. By 2007, Lehman underwrote more mortgage securities than any other firm and had a leverage ratio of 31 to 1. In September 2008, Lehman declared bankruptcy after reporting large losses, wiping out over $46 billion in market value. Lehman's collapse intensified the 2008 financial crisis and contributed to a loss of nearly $10 trillion in global equity markets. The bankruptcy froze the commercial paper market, and the federal government had to implement guarantees and programs to stabilize money market funds and restart lending.
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The document summarizes the collapse of Lehman Brothers investment bank in September 2008. It provides background on Lehman Brothers and explains the key reasons for its bankruptcy, including losses from subprime mortgage loans, a lack of confidence from other banks, and the refusal of potential acquirers like Barclays. The CEO's pride and refusal to sell at a lower price were also factors. The fall of Lehman Brothers and Merrill Lynch's acquisition by Bank of America shocked markets and increased uncertainty about other financial institutions like AIG and Washington Mutual. The events also increased risk perceptions in Indian markets.
US HOUSING SCAM 2008
The US recession of 2008 was caused by the collapse of the housing bubble fueled by predatory lending practices and deregulation of the financial industry. Subprime mortgages were provided to borrowers who could not afford them, and these risky loans were repackaged and sold as secure investments. When borrowers began to default, the value of these investments collapsed, triggering a global financial crisis as major banks and institutions faced huge losses. The recession had widespread impact around the world and governments spent trillions bailing out failing banks.
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The rise and fall of Lehman brother
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- 2. The Journey…. Directed by Charles H. Ferguson and was released on 8th October 2010. Won Oscar award for the best documentary (2011) and 5 other awards in different award events. The whole movie is narrated by Matt Damon. Budget: $20 million Opening week: $39000 Gross: $4.5 billion Perfectly named “Inside Job”.
- 4. The Story…. Movie is divided into 5 Parts 1. How we got here 2. The Bubble 3. Crisis 4. Accountability 5. Where we are now
- 5. 2008 HOW DID IT START ?
- 6. 20081980 ICELAND Banks Insurance Companies Credit Rating Agencies
- 8. 1999 VIOLATED THE GLASS-STEAGAL ACT 2001 GRAMM-LEACH-BLILEY-ACT Short-term Financial Crisis Financial Institutions in Internet Companies Securitization Food Chain Events before the “Bubble”
- 9. Securitization Food Chain (2001) CDO (Collateralized Debt Obligation)
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- 14. Where are we now? The American economy is weaker than before Unemployment and inflation are at a rise Obama came with a lot of promise but the government did not prosecute any senior executives The government did not bring any financial reform and this resulted in………
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