12∞ · Question 8.6.7
What really caused the 2008 financial crisis?
Lenders issued mortgages that borrowers could not repay, banks packaged them into securities, rating agencies paid by the banks labeled them safe, and regulators looked away.
From the book 12∞ Twelve to Infinity by D.R. Davenport. The full answer is free to read with an iBelieve account.
Where it sits in the book
- Part
- 8: Hidden, Suppressed, Forgotten, or Misunderstood
- Gate
- 8.6: Money in the Shadows
- In print
- Page 269
- ← 8.6.6 · What part of labor history was I probably not taught?
- 8.6.8 → · What is predatory lending?
- All of Part 8
Topics
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