pgrommit

While working in an unrelated job, I completed a 4 year degree in Finance. Over the years I have become a serious student of anything that affects the financial markets, such as economics, national politics, geopolitics, world events. Thus, anything happening in say, Washington D.C. or the Persian Gulf is of interest to me.

Anatomy of a Bubble That Caused a Global Crisis Part 3

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Anatomy of a Bubble

In order to see the all-important relationship between the housing bubble and the ensuing financial collapse, one needs to look at the changes made in both areas in the many years prior to the 2007-2008 period. In the wake of the Great Depression, and a wave of bank failures nationwide, Congress passed a law (the … Read more

Anatomy of a Bubble That Caused a Global Crisis Part 2

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Anatomy of a Bubble

Part One provided the pieces that drove the housing boom. Now we will see how they all came together. There were abuses pushing the envelope, by seemingly all involved. THE BUYERS First up were the home buyers, wanting to take advantage of the home price boom. What many buyers amazingly chose not to realize, was … Read more