DefaultRisk.com the web's biggest credit risk modeling resource. |  |
|
|
| The Credit Crunch of 2007: What went wrong? Why? What lessons can be learned? by John C. Hull of the University of Toronto May 2009 Abstract: This paper explains the events leading to the credit crisis of 2007 and the products that were created from residential mortgages. It discusses the reasons why the risks in these products were underestimated. It also considers steps that can be taken by financial institutions and their regulators to avoid similar crises in the future. Keywords: Credit crisis, 2007, securitization, ratings, regulation. Published in: Journal of Credit Risk, Vol. 5, No. 2, (Summer 2009), pp. 3-18. |
