FAILURES OF SUPERVISORY BODIES AND RATING AGENCIES IN MORTGAGE CRISIS ESCALATION
Perica J. Janković
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Perica J. Janković: University Union Nikola Tesla, Faculty of business studies and righ, Belgrade
No 2014-01, Ekonomika, Journal for Economic Theory and Practice and Social Issues from „Ekonomika“ Society of Economists, Niš (Serbia)
Abstract:
The financial crisis is a result of the irresponsible business policy of the relevant state institutions for the financial market control (the US Federal Reserve and the US Security and Exchange Commission) and the lack of competence of rating agencies, as well as fundamental weaknesses that have existed for years in the area of financial control and regulation in the United States. The mentioned weaknesses originate in the idea of unlimited liberalization of financial markets, with minimal regulation and weak business control of the investment banks and funds.
Keywords: Regulatory bodies; rating agencies; hypothecary crisis (search for similar items in EconPapers)
JEL-codes: E52 G23 G24 G28 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2014-04
New Economics Papers: this item is included in nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:esb:casprv:2014-122
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