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The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis. The crisis led to a severe economic recession, with millions losing their jobs and many businesses going bankrupt.
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The Big Short is a 2015 American biographical comedy-drama film directed by Adam McKay and co-written by McKay and Charles Randolph.The film is based on the 2010 book The Big Short: Inside the Doomsday Machine by Michael Lewis, and shows how the 2007–2008 financial crisis was triggered by the United States housing bubble. [4]
The housing market is red hot at the moment, with the Case-Shiller index soaring. But Morgan Stanley has some good reasons why the current situation isn't a bubble.
Peter J. Wallison points out that none of the major investment banks that were hit by the crisis, "Bear, Lehman, Merrill, Goldman, or Morgan Stanley — were affiliated with commercial banks" but were stand-alone investment banks allowable by Glass-Steagall. The mortgage banks, Wachovia, Washington Mutual, and IndyMac, were also independent ...
At the beginning of this year, Morgan Stanley analysts had a far dimmer view of the housing market over the next couple of years. They expected home prices to fall 10% between June 2022 and 2024 ...
The housing market is crazy expensive, but ‘an improvement in affordability that we have only seen a handful of times over the past ~35 years’ is coming, says Morgan Stanley Alena Botros ...
source: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States, p.229, figure 11.4 Credit rating agencies came under scrutiny following the mortgage crisis for giving investment-grade, "money safe" ratings to securitized mortgages (in the form of securities known as mortgage-backed securities (MBS) and collateralized debt obligations ...