Crash 2008

Giorgio Szego

Rivista di Politica Economica, 2008, vol. 98, issue 1, 3-37

Abstract: Causes and consequences of the current "subprime" financial crisis are analysed. The large number of fraudulent and criminal mortgages obtained by means of false statements unverified by the mortgagees, explains why this crisis was not predicted. The crisis was enhanced by unwise regulations like Marking-to-market of untraded assets and "Basel" capital requirements.

JEL-codes: G15 G21 G24 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:98:y:2008:i:1:p:3-37

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