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How did banks change home lending practices in the decades leading up to the housing bubble of 2008? Why did they do this?
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- At the Great Recession of 2008, why would Wall Street buy mortgages of people who had really bad credit and no down payment?As part of the wave of “deregulation” of financial markets in the 1980s, banking laws were changed to allow commercial banks in the United States to offer relatively liquid savings accounts that could pay a market interest rate. What were these accounts called? How did they work?If you were going to get a loan to purchase a new car,which financial intermediary would you use: a creditunion, a pension fund, or an investment bank?