Fratianni, Michele; Marchionne, Francesco - Department of Business Economics and Public Policy, … - 2009
The ultimate point of origin of the great financial crisis of 2007-2009 can be traced back to an extremely indebted US … economy. The collapse of the real estate market in 2006 was the close point of origin of the crisis. The failure rates of … subprime mortgages cannot account for the severity of the crisis. Rather, low-quality mortgages acted as an accelerant to the …