A Short History Of Banking Industry Deregulation

Transcript

Published by Catherine Bryan Ibarra- Journalist Subprime mortgage defaults have produced the biggest world-wide economic crisis since the Great Depression; as hundreds of billions in mortgage-related investments collapsed and went bad, banks desperately sought to reduce their exposure and credit default swaps increased, resulting in a worsened credit crunch to consumers and small to medium businesses. Now we must look to our lawmakers and Banking Industry Regulators to put an end the abuses.