What Caused the 2008 Financial Crisis? The Main Explanations
The video cites a fall in output of 4.3 percent and unemployment rising from under 5 to 10 percent (Federal Reserve History).
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1.By how much did US output fall in the 2008 crisis, according to the video's facts?
The video cites a fall in output of 4.3 percent and unemployment rising from under 5 to 10 percent (Federal Reserve History).
2.What happened to US house prices between 1998 and 2006?
The video says house prices more than doubled between 1998 and 2006 while household mortgage debt rose from 61 to 97 percent of national income.
3.What does story two, securitization and ratings, say went wrong?
The video, citing the inquiry, says the securities could not have been sold without the rating seal of approval.
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Sources (6)
- The Great Recession and Its Aftermath (Federal Reserve History, Federal Reserve Board)
- The Subprime Mortgage Crisis (Federal Reserve History)
- The Financial Crisis Inquiry Report, Conclusions of the Financial Crisis Inquiry Commission (January 2011)
- Peter Wallison, Dissent from the FCIC majority report (2011), Berichterstattung
- Bernanke, "The Global Saving Glut and the U.S. Current Account Deficit" (Rede, 10. March 2005, Federal Reserve Board)
- Eigene Rechnung: Hebel-Beispiel
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