Causes and consequences of the current "subprime" financial crisis are analysed. The large number of fraudulent and criminal mortgages obtained by means of false statements unverified by the mortgagees, explains why this crisis was not predicted. The crisis was enhanced by unwise regulations like Marking-to-market of untraded assets and "Basel" capital requirements.
Volume (Year): 98 (2008)
Issue (Month): 1 (January-February)
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- Guillaume Plantin & Haresh Sapra & Hyun Shin, "undated".
"Marking to Market: Panacea or Pandora’s Box ?,"
GSIA Working Papers
2005-E4, Carnegie Mellon University, Tepper School of Business.
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- Con Keating & Hyun Song Shin & Charles Goodhart & Jon Danielsson, 2001. "An Academic Response to Basel II," FMG Special Papers sp130, Financial Markets Group.
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