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The Great Subprime Credit Crisis and its Impact on Eastern Europe

  • Bernd Sagemann
  • Peter Reese

Abstract

The current global financial crisis is the worst the world has seen since the Great Depression during 1929-33. In 2008, clouds were gathering on the financial horizon. US house prices had peaked in 2006 and adjustable mortgage rates had risen, damaging the balance sheets of highly indebted households and undermining faith in mortgage-backed securities (MBS). It became evident that a variety of securitized assets, some quite highly leveraged, were far riskier than advertised.

Keywords

House Price Credit Risk Hedge Fund Credit Default Swap Credit Spread 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Gabler Verlag | Springer Fachmedien Wiesbaden GmbH 2011

Authors and Affiliations

  • Bernd Sagemann
  • Peter Reese

There are no affiliations available

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