Bhardwaj, Geetesh; Sengupta, Rajdeep - Federal Reserve Bank of St. Louis - 2008
subprime mortgage design. We show that the viability of such products was predicated on
the appreciation of house prices. In a … it weren�t the subprime crisis, it would have been something else.1
The recent crisis in the subprime mortgage market is … arguably one of the landmark events in
recent �nancial history. The extraordinary growth of the subprime mortgage market in the …