Daily Pickings on the subprime crisis

Looking in the rear-view mirror as we drive over the cliff 04 February 2016

How to survive collapse 26 January 2016

What could possibly be wrong with this? 16 October 2015

Banking union in Europe 19 July 2014

A Hard Rain's A-Gonna Fall 17 July 2014

In whose interest? 02 June 2014

What's to be done? 15 April 2014

Economic deja vu 14 September 2013

Treason and institutional fraud 02 August 2013

Watch the pea 27 July 2013

 

Module 2: Sub-prime Crisis

The current economic turmoil was precipitated by the sub-prime mortgage crisis. From the exploration conducted in Module 1, it is clear the structural flaws in the banking and monetary system underpin the economic problems we face today and have their origins dating back centuries. The sub-prime mortgage market developed as a result of those flaws and was by no means a novel departure from previous practices. We only have to go back as far as the 1980s to see a similar debt problem emerging, the junk bond scandal involving Michael Milken of Drexel Burnham Lambert and Ivan Boesky: Drexel Burnham Lambert's legacy, Stars of the junkyard. The more recent sub-prime

Read more...