This paper discusses the key regulatory, market and political failures that led to the 2008-2009 United States financial crisis. While Congress was fixing the Savings and Loan crisis, it failed to give the regulator of Fannie Mae and Freddie Mac normal bank supervisory power. This was a political failure as Congress was appealing to narrow constituencies. In the mid-1990s, to encourage home ownership, the Administration changed enforcement of the...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2010/05/01
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Рабочий документ в рамках исследования вопросов политики
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WPS5324
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1
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1
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2010/07/01
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Disclosed
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The political, regulatory and market failures that caused the US financial crisis
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Mortgages
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