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The Financial Crisis: Causes and Lessons

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  • Kenneth E. Scott

Abstract

The author argues that the root cause of the recent crisis was a housing bubble whose origins can be traced to loose monetary policy and a government housing policy that continually pushed for lower lending standards to increase home ownership. The negative consequences of such policies were amplified when transmitted throughout the financial system by financial institutions through the process of securitization. Copyright Copyright (c) 2010 Morgan Stanley.

Suggested Citation

  • Kenneth E. Scott, 2010. "The Financial Crisis: Causes and Lessons," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(3), pages 22-29.
  • Handle: RePEc:bla:jacrfn:v:22:y:2010:i:3:p:22-29
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1745-6622.2010.00285.x
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    Cited by:

    1. Nofsinger, John R., 2012. "Household behavior and boom/bust cycles," Journal of Financial Stability, Elsevier, vol. 8(3), pages 161-173.

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