The burst of the housing bubble and the subsequent collapse of the subprime mortgage market has grabbed the headlines for the past year or so. Most of the stories in the press have concentrated on the major investment banks and federal policy makers as they struggle to cope with the crisis. But we thought it would be useful to narrow the focus and look at a single Mortgage Backed Security (MBS) offered by Citigroup and then drill down further to look at a single loan that has gone bad in Ohio.We then consider how the resulting crisis has mobilized state and local political action in Ohio.
Jaan Elias and William N. Goetzmann, “Subprime Lending Crisis,” Yale SOM Case 07-52, January 17, 2008.
- Asset Management
- Financial Regulation
- State & Society