The Crisis Narrative

The crisis story is 4 o'clock in the morning of August; 17 year old Monica Adams will hold her niece Abigailme for the first time. Abigail's weight is only 5 pounds and its arms are very small. When Monica caught her, she tried to understand what was going on at the moment; she thought I was my aunt. She tried to grasp the feeling of being an aunt, but she could not. This is too mysterious for her. It all began in the first year of Monica High School in December. She reminds me that the day is almost the same as what happened yesterday.

What is the cause of the recent financial crisis? Each economist has not accepted the story of the crisis that occurred, so there is plenty of room for discussion. However, it is not an exaggeration to say that there are not so many economists who believe that 'the crisis will not occur because of the abolition of the 1999 Glass - Steagall Act'. White does not believe that Glass-Steagall will play some role in the financial crisis. He pointed out Lehman Brothers, Bear Stearns, Goldman Sachs, American International Group, Fannie Mae, and Freddie Mac, the biggest causes of the crisis. None of these companies is a hybrid of Defense of Glass-Steagall. He added that the vast majority of the crisis will depend on activities that may or may not be implemented by the Glass - Steagall Act, such as heavy investment in famous bad mortgages.

In 2013, the court ruled that Goldman Sachs mid - sized trader Fabrice Tour was convicted in the 2008 crisis, including an innocent CDO called abacus. The CDO used in the crisis of 2008 is a collection of similarly mature housing loans. CDO represents the debt of a mortgage (housing is a mortgage loan) (mortgage is an obligation to repay debt). "Over the past three decades, the majority of the American academic community has deteriorated for the" paid game "campaign. Now, if you see a famous professor of economics writing testimony or article in Congress, in most cases these professors do not reveal these conflicts of interest, in most cases their colleges are different It seems to be the way of.

Background and cause of the debt crisis from the late 1970s to the latter half of the 1980s. The debt crisis known as the financial crisis is defined as the point at which the country's external debt accumulates more than its profitability and the country has no ability to pay its debt. It is easy to understand that the debt crisis is an outstanding debt that Mexico can not repay a $ 80 billion debt. It was in the process that US $ 23.9 billion was planned to be re-planned in 27 countries by October 1983 one year later.