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HFU Business School, Internationale Betriebswirtschaft
Academic Research and Writing Prof. Dr. Taylor
In winter semester 2016/17
Causes and effects of 2008
financial crisis
Term Paper presented by
Raphael Bartmann
(Matriculation: 250328)
IBW 4
Reutlingerstraße 17
78054 Villingen-Schwenningen
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January, 2017
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Contents
1. Introduction .................................................................................................................. XXXXXXXXXX3
2. Causes ........................................................................................................................... XXXXXXXXXX3
2.1 History – US government policy ................................................................................. XXXXXXXXXX3
2.2 US real estate crisis and housing bu
le .................................................................... XXXXXXXXXX4
2.3 The role of US investment banks – CDO’s and rating agencies .................................. XXXXXXXXXX5
2.4 No regulation .............................................................................................................. XXXXXXXXXX5
2.5 Relationship between Investment banks and rating agencies ................................... XXXXXXXXXX6
2.6 The role of AIG – the biggest insurance company in the world ................................. XXXXXXXXXX7
3. Consequences ............................................................................................................... XXXXXXXXXX7
3.1 The crisis ..................................................................................................................... XXXXXXXXXX7
3.2 Investor losses ............................................................................................................ XXXXXXXXXX8
3.3 Global recession ......................................................................................................... XXXXXXXXXX8
4. Conclusion .................................................................................................................... XXXXXXXXXX9
4.1 Future ....................................................................................................................... XXXXXXXXXX10
5. Literature cited ........................................................................................................... XXXXXXXXXX11
6. Author .........................................................................................................................................