Political Economy During the Bust

Jaime Luque
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Jaime Luque: 1University of Wisconsin-Madison, USA

Chapter 6 in The Subprime Crisis:Lessons for Business Students, 2017, pp 47-53 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The subprime mortgage crisis prompted an unprecedented, and often controversial expansion of the government intervention in the economy. Ben Bernanke was of the belief that if major banks and mortgage lenders were left to die, it would bring down the global economy with them. Was congress right in allowing the government to bail out the banks? To answer this question, one must first uncover if Congress was acting in the best interest of the people…

Keywords: Subprime Crisis; Great Recession; 2009 Recession; Mortgage; Financial Market; Preventing Recession; 2009 Crisis; Interest Rates (search for similar items in EconPapers)
JEL-codes: G01 G1 (search for similar items in EconPapers)
Date: 2017
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