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5 - What Caused the Crisis?

Published online by Cambridge University Press:  07 October 2021

Barrie A. Wigmore
Barrie A. Wigmore
Affiliation:
Retired Partner, Goldman Sachs
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Summary

People date the financial crisis differently. The earliest dates look to 2007 when several fixed-income funds and mortgage banks failed or to early 2008 when Bear Stearns failed. Those focused on housing date it from early 2007 or even 2006 when housing prices began to decline and subprime mortgagees began to default in large numbers.

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The Financial Crisis of 2008
A History of US Financial Markets 2000–2012
 , pp. 221 - 280
Publisher: Cambridge University Press
Print publication year: 2021

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