Glad to help and I hope you find it interesting. Too many people take for granted that subprime mortgages and securitisation caused the crisis, but don't pay any thought to how that might occur. Of course, there were many other factors, as outlined in Ginevra's work, which made it a global...
You have identified the most significant part of the events and something which is not very well understood about the crisis. The number of subprime mortgages in existence was actually not large enough to topple the financial system, as Ginevra explains this was enabled by the creation of...
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