US Financial Crisis: Would the Bailout Work?



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Code : ECC0014

Year :
2008

Industry : Banking, Insurance and Financial Services

Region : US

Teaching Note: Available

Structured Assignment : Available

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Introduction: The turmoil in the US financial market had started showing signs in the month of March 2008, when two Bear Stearns hedge funds linked to the subprime mortgages failed and government washed the mess with a rescue line of $29 billion. However, the roiling reached a critical stage during September 2008 when a series of convulsing events threatened to freeze up the credit markets. Initial response of the US government was to address the problems 'caseby- case' by deciding whether to intervene or not. Taking over $5 trillion mortgage debt holding Fannie Mae and Freddie Mac on September 7th 2008, letting the bankruptcy of 158-year-old famed investment bank Lehman Brothers on September 15th 2008, extending $85 billion liquidity facility to the largest US insurer American International Group (AIG) on September 17th 2008 were the results of such ad hoc decisions...

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