Finacial Crisis Essay

32032 Words129 Pages
ECONOMIC AND FINANCIAL CRISIS CONTENT 1. 2. INTRODUCTION ..................................................................................................................... 4 UNITED STATES OF AMERICA. THE ORIGIN. .......................................................................... 5 2.1 2.1.1 2.1.1.1 2.1.1.2 2.1.1.3 2.1.1.4 2.1.1.5 2.1.1.6 2.1.2 2.1.2.1 2.1.3 2.1.3.1 2.1.3.2 2.1.3.2.1 2.1.3.2.2 2.1.4 2.1.4.1 2.1.4.2 2.1.4.3 2.1.4.4 2.1.4.5 2.1.4.6 2.1.5 2.1.5.1 2.1.5.2 2.1.5.3 2.1.6 2.1.6.1 2.1.6.2 2.1.6.3 MAIN CAUSES. OVERVIEW. ........................................................................................... 5 Housing market ......................................................................................................... 6 The U.S. housing bubble and foreclosures ............................................................ 6 Subprime lending .................................................................................................. 7 Mortgage underwriting ......................................................................................... 8 Mortgage fraud ..................................................................................................... 9 Down payments and negative equity ................................................................. 10 Predatory lending ................................................................................................ 11 Risk-taking behavior ................................................................................................ 11 Consumer and household borrowing...................................................................... 11 Excessive private debt levels ................................................................................... 12 Housing speculation

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