Introduction

Chi Lo
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Chi Lo: Economic Strategist

A chapter in Asia and the Subprime Crisis, 2009, pp 1-6 from Palgrave Macmillan

Abstract: Abstract It is an amazing coincidence that the US subprime crisis, which has swept the world into an unprecedented turmoil, happened exactly ten years after the Asian crisis. In July 1997, the Asian crisis broke in Thailand and then spread to the rest of Asia. In July 2007, US investment bank Bear Stearns disclosed that its two subprime hedge funds had lost nearly all of their value amid a rapid decline in the market for subprime mortgages. The revelation set off the subprime crisis, which spread throughout the world in the following months.

Keywords: Mortgage Loan; Mortgage Lender; Asian Crisis; Credit Derivative; Quantitative Ease (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-25113-7_1

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DOI: 10.1057/9780230251137_1

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