Following the financial crisis came the biggest financial reform since the 1930s. On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was enacted in hopes of preventing another crisis. As part of the act, the Financial Stability Oversight Council was created to monitor all banks, as the failure of… Continue reading So what now?
In light of the financial crisis caused by subprime loans, it may be easy to point fingers to the people who issued the loans; however, it could also be said they were just doing their job. A person can comply with rules and regulations without regard to ethics. Thus, just because a person is approved… Continue reading In a time of subprime loan financial crisis, where are the leaders?
In the 1980s, lenders started issuing subprime loans to people who had issues with their credit history. Although these loans had higher interest rates, they were a good option for a borrower, who may have a medical emergency, lost their job or went through a divorce. Lenders also found a way to mitigate loss with… Continue reading To subprime loan or not to subprime loan?