ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Willi SemmlerSubscribe to Willi Semmler

Banking, Complex Securities, and the Credit Crisis

This paper describes the current credit crisis and explains aspects of its macro and micro features. In particular, it describes the mechanism by which sub-prime mortgages and securitisation products helped to exacerbate the problem. In contrast to many other descriptions, it employs no advanced mathematical techniques, allowing non-specialists to appreciate the important dynamic processes at work.
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