How Did the Mortgage Crisis Spiral Into a Huge Financial Panic?
Posted in Macroeconomics on Jan 7th, 2009
An increase in mortgage delinquencies due to a nationwide decline in housing prices was the trigger for a full-blown liquidity crisis that emerged in 2007 and might well drag on over the next few years. While each crisis has its own specificities, the current one has been surprisingly close to a -classical banking crisis. What […]
