【案例名称】Subprime Meltdown American Housing and Global Financial Turmoil
【作者】Julio J. Rotemberg
【页数】21
【格式】PDF
【语言】英语
【出版日期】2008年1月18日
【修正日期】2008年5月6日
【学科】金融 (Finance)
【案例编号】708042-PDF-ENG
【来源】HBS Premier Case Collection
【网页】http://cb.hbsp.harvard.edu/cb/product/708042-PDF-ENG
【简介】
This case focuses on the financial difficulties faced in the US from August to December 2006 as well as their roots in subprime lending. After briefly discussing how mortgages were structured and traded in the pre-1990 period, it describes subprime mortgage lending, as well as other innovative mortgages issued in the 1990s. It also discusses how these mortgages were packaged into securities, and who ultimately came to own these claims and their attendant risk. The case then describes the pain inflicted by raising foreclosures, as well as the financial market ramifications of the rise in mortgage delinquencies. It also chronicles the response of the US and European central banks to the unfolding financial difficulties. Lastly, the case lays policies that have been proposed to deal with either the consequences or the causes of the crisis. These include policies for reforming the supervision of the financial system, changing bankruptcy rules and regulating mortgage finance. Some attention is paid to the role of credit rating agencies in the crisis, and in the financial system as a whole.
【学习目标】
Causes of the crisis, and appropriate policy responses.
【涉及课题】
Market failures; Market structure; Monetary policy; Mortgages
【背景】
* Industry: Regulation
* Event Year Begin: 1990
* Event Year End: 2007
【下载】
http://www.mbabbs.com/thread-573-1-1.html