Economics, Econometrics and Finance
8 years ago

Government policies fueled subprime mortgage crisis, targeting low-income borrowers.

Critical studies on corporate responsibility, governance and sustainability
Who is responsible for the financial crisis? Lessons from a separation thesis
William Sun, Lawrence Bellamy

Paper Summary

The financial crisis was caused by risky subprime mortgages given to low-income borrowers. Lenders relaxed standards due to government policies promoting homeownership for minorities.

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