Hintergründe und Ursachen der Finanzkrise – Wo sind die Milliarden geblieben? / Background, causes and results of the financial crisis – Where did all the money go?

Neubäumer Renate ()
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Neubäumer Renate: Universität Koblenz-Landau Institut für Sozialwissenschaften - Abteilung Wirtschaftswissenschaften - August-Croissant-Straße 5 D-76829 Landau

Arbeit, 2010, vol. 19, issue 2-3, 104-115

Abstract: The article analyzes the background and causes of the worldwide financial crisis and concludes that several developments colluded: a “hectical” monetary policy of the Federal Reserve, the housing real estate bubble, completely unregulated “securitization cascades” and a vast expansion of national and international lending. The consequence was an enormous loss of assets, which can be traced mainly to the revaluation of assets, the fact that (many) American households „lived beyond their means“ and the redistribution of wealth and income during the development of the financial crisis.

Keywords: Financial crisis; loss of wealth; redistribution of wealth; real estate bubble; securitization; Finanzkrise; Vermögensverluste; Vermögensumverteilung; Verbriefung; Immobilienblase; Financial crisis; loss of wealth; redistribution of wealth; real estate bubble; securitization (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:arbeit:v:19:y:2010:i:2-3:p:104-115:n:4

DOI: 10.1515/arbeit-2010-2-304

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