Wednesday, October 12, 2016

The Financial Meltdown of 2009 : Why And How It Happened

This is a must read to help understand and or solidify your idea of what actually happened and why the financial institutions that were involved in the melt down in 2009 came under attack from the government.
It is eye opening and extremely informative - this article is a little long and a little in the weeds, but still well worth your time if are interested on the facts and wherefores of our past financial debacle and why we are still fighting to get a grip on  the aftermath of that crisis.


The Financial Crisis: Causes, Recollections and the Aftermath

Through his experience as a former official with the Office of Thrift Supervision, C.K. Lee talks about the financial crisis:
The Financial Crisis of 2007-2009, and the aftermath, is the defining moment of my career in banking. Having served in government for 17 years, 10 of those in the bank regulatory arena, I managed to be present at some interesting places leading up to the events of 2007-2009, and served on the front lines of the recovery effort thereafter. Those experiences gave me insight into how federal policy affects financial markets, the private sector's recovery capabilities and the consequences of government responses.
The Role of Government. The federal government set the stage for the crisis -- not through a "lack of regulation," as Hollywood and political lore would have you believe -- but through affirmative policies that created an extraordinary housing bubble based on an unprecedented political and economic consensus.
Read the entire article.

No comments: