financial crisis of 2007–08 - Encyclopedia Britannica
https://www.britannica.com/money/financial-crisis-of-2007-2008
Although the exact causes of the financial crisis are a matter of dispute among economists, ther…First, the Federal Reserve (Fed), the central bank of the United States, having anticipated a mild recession that began in 2001, reduced the federal funds rate (the interest rate that banks charge each other for overnight loans of federal funds—i.e., balances held at a Federal Reserve bank) … Second, owing to changes in banking laws beginning in the 1980s, banks were able to offer to s…Third, contributing to the growth of subprime lending was the widespread practice of securitization, whereby banks bundled together hundreds or even thousands of subprime mortgages and other, less-risky forms of consumer debt and sold them (or pieces of them) in ca…
Although the exact causes of the financial crisis are a matter of dispute among economists, ther…First, the Federal Reserve (Fed), the central bank of the United States, having anticipated a mild recession that began in 2001, reduced the federal funds rate (the interest rate that banks charge each other for overnight loans of federal funds—i.e., balances held at a Federal Reserve bank) …
Second, owing to changes in banking laws beginning in the 1980s, banks were able to offer to s…Third, contributing to the growth of subprime lending was the widespread practice of securitization, whereby banks bundled together hundreds or even thousands of subprime mortgages and other, less-risky forms of consumer debt and sold them (or pieces of them) in ca…
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