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Sponsored By Center for Excellence in Accounting and Security Analysis, Columbia Business School (Columbia University)

Topics:

Banking & Capital Markets

Financial Crisis

Professional Services

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Abstract:

In the aftermath of the financial crisis, market commentators have scrambled to identify a cause: deregulation, lax regulation, predatory lenders, naïve borrowers, cheap or free credit, and all the parties involved in financial securities linked to mortgages.

While all these elements contributed to the crisis, there is a simpler root cause that can provide lessons for the future: key players lost sight of, or simply ignored, the fundamental economic reality that underlies mortgages: people and homes.

DETAILS

Sponsored by: Center for Excellence in Accounting and Security Analysis, Columbia Business School (Columbia University)

Released: January 07, 2009

Length: 2 pages

Format: PDF (60 kb)

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