Credit Agencies, Shadow Banking Fueled Devastating Global Financial Crisis
The article explains how the Financial Crisis of 2007-2009 was caused and worsened by Credit Rating Agencies, Mark to Market, and the Shadow Banking System in the US. These factors played a significant role in the crisis, which had a bigger impact worldwide than the Great Depression of 1929. The paper focuses on analyzing these key causes that are often overlooked in discussions about the crisis.