Leverage? What Leverage? [electronic resource] : A Deep Dive into the U.S. Flow of Funds in Search of Clues to the Global Crisis, Bayoumi, Tamim.
- Washington, D.C. : International Monetary Fund, 2012.
- IMF eLibrary
IMF Working Papers; Working Paper No. 12/162.
IMF Working Papers; Working Paper No. 12/162
- Government document
1 online resource (30 p.)
- Local subjects:
Industrial revenue bonds.
Money market mutual fund.
- This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment banks was the fatal link between the collapse of structured finance and the global malfunction of funding markets that turbocharged the downdraft; and, second, that this insight (and others) can be decrypted from the Flow of Funds Accounts of the United States.
- Description based on print version record.
- Bayoumi, Tamim.
Bhatia, Ashok Vir.
- Other format:
- Print Version:
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- Access Restriction:
- Restricted for use by site license.
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