Economic Crisis of 2008 by KAREN WERNER https://padlet.com/wernerk2/9qon06hliroe Karen Werner en-us 2019-04-29 18:58:09 UTC 2019-05-06 19:11:09 UTC hello@padlet.com Origins (Britannica) wernerk2 https://padlet.com/wernerk2/9qon06hliroe/wish/355174525 Chicago Citation: 
Havemann, John, "The Financial Crisis of 2008." Encyclopedia Britannica. 

-The American housing market threaten to drag the global economy 
-Mortgage dealers who issued mortgages with terms unfavorable to borrowers (ofter families that did not qualify for ordinary home loans)
-Mortgage lenders sold their loans to a bank or Fannie Mae or Freddie Mac.
-Fannie Mae and Freddie Mac (government charted institutions created to buy up mortgages and provide mortgage lenders with more money. 
-The insurance industry got into it by trading in "credit default swaps" 
-As long as housing prices kept rising, everyone profited. ]]> 2019-04-29 19:01:10 UTC https://padlet.com/wernerk2/9qon06hliroe/wish/355174525 Origins (Cambridge Journal of Economics) wernerk2 https://padlet.com/wernerk2/9qon06hliroe/wish/356352657 Chicago Citation:
Pasquale Tridico, Financial crisis and global imbalances: its labour market origins and the aftermath, Cambridge Journal of Economics, Volume 36, Issue 1, January 2012, Pages 17–42. 

-The 2007-09 economic crisis is rooted in the uneven income distribution and inequality caused by the current finance led model of growth. 
-Labour flexibility, wage moderation and soaring profits. 
-Diminished workers' purchasing power, compensated with increased borrowing opportunities and the boom of credit consumption, all which helped workers maintain unstable consumption capacity. 
-Unstable consumption patterns derived from precarious job creation, job instability and poor wages have weekend agrivated demand. ]]> 2019-05-02 18:33:54 UTC https://padlet.com/wernerk2/9qon06hliroe/wish/356352657 Origins (New York Times) wernerk2 https://padlet.com/wernerk2/9qon06hliroe/wish/356358615 Chicago Citation:
Mankiw N., Gregory, Learning the Right Lessons from the Financial Crisis, New York Times, July 7, 2018. 

-The U.S. experienced a housing bubble. 
- Wall Street firms made excessively risky bets that this bubble would never end. 
-With mortgage backed securities, they extended credit to home buyers of dubious credit quality. 
-These new homeowners defaulted in record numbers, led to a recession. ]]> 2019-05-02 18:47:28 UTC https://padlet.com/wernerk2/9qon06hliroe/wish/356358615