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What is an enconomy?

Updated: 10/12/2021
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13y ago

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there is more importent things in life

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13y ago
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Kevin Ho

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2y ago
I don't understand

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Q: What is an enconomy?
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The economic downturn started in the mortgage industry, which brought down major financial companies, which, in-turn, impacted everyone. The cause of the crisis was lack of integrity through the entire transaction flow, not just any particular step. The flow started with mortgage company execs who allowed or encouraged their people to be rewarded for volume of mortgages regardless of the quality. Next were the actions of the sales people and their interactions with unqualified borrowers. Then the mortgage companies packaged and sold the mortgages, which the Wall Street people turned into CDO's (collateralized debt obligations). Then the ratings agencies blessed the CDO's with AAA ratings. AIG insured them, without legally calling it "insurance" in order to get outside regulatory authority. Meanwhile, the SEC was asleep.


What kind of enconomy does Norway have?

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Do dictator countries show economic group than democratic countries?

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