Publication details
Financial Crisis or Healing Process?
| Authors | |
|---|---|
| Year of publication | 2009 |
| Type | Article in Proceedings |
| Conference | COFOLA 2009: Key Points and Ideas |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Economic Downturn; Community Reinvestment Act; Freddie Mac; Fannie Mae; Equal Credit Opportunity Act; Mortgage-underwritting Standards; Homeownership Rate; Financial Instruments; Minimum Wage Laws |
| Description | Are we really facing financial crisis or is the current economic downturn just a natural healing process that is to help economy to recover from unsuitable interference? The author of this article acquaints reader especially with an approach of Professor Liebowitz who claims that the governmental affirmative policies were at the roots of the crisis. Should government set artificial requirements on mortgage-underwriting standards? Further, the author ponders over some of the consequences that some similar so-called protective regulations might bring with them. |