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Subprime mortgage crisis or credit crisis of 2008 happened due to mortgage backed securities and financial deregulation. It created housing bubble, which burst in 2008. In 1999 glass steagall act was removed by President Clinton, which restricted banks from investment/trading activities. So, after 1999 all major banks in United States started doing business with Investment banks. They were selling all their mortgages to investment banks. The investment banks were selling asset backed securities in the form of collateralized debt obligation to common public. AIG came with credit default swap. One day the - bubble burst. Love and regard Pravin Khetan Follow me on Insta: @pkkkhetan ================= iPlan Education is providing stock market course since 2010. We've trained over 8000+ students from 30+ countries and have been awarded "Best Financial Services Institute" by 8 organizations. We have a teams of 20+ faculties and professionals having average work ex of 8+ years. We offer 15 programs in stock market, Technical analysis, fundamental analysis, Derivatives, Forex, Commodity, Equity Research, Financial Planning and Financial Modeling. Certificates are provided by NSE, BSE, MCX. We also offer CFA and FRM program, we are GARP, USA Auth. Exam Prep Provider for FRM Exam in India Visit us at: www.iplaneducation.com #creditcrisis #financialcrisis #MBS
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What is mortgage backed securities, ABS, SPV, subprime mortgage credit crisis of 2008 - Hindi
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