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The Credit Bubble Bursts, the Financial Crisis Begins

In: Anatomy of a Financial Crisis

Author

Listed:
  • Marc Jarsulic

Abstract

When the house price bubble began to deflate in mid-2006, losses on nonprime mortgage assets were inevitable. For firms with large concentrations of these assets relative to their capital, these losses have meant insolvency. Over time, the cascade of insolvencies, and continuing uncertainty about the scale and location of insolvencies to come, provoked the largest financial crisis since the Great Depression.

Suggested Citation

  • Marc Jarsulic, 2010. "The Credit Bubble Bursts, the Financial Crisis Begins," Palgrave Macmillan Books, in: Anatomy of a Financial Crisis, chapter 0, pages 55-90, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-10618-5_3
    DOI: 10.1057/9780230106185_3
    as

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