Abstract

http://ssrn.com/abstract=1102326
 
 

Citations (2)



 


 



Markets, Systemic Risk, and the Subprime Mortgage Crisis


Steven L. Schwarcz


Duke University - School of Law


Southern Methodist University Law Review, Vol. 61, No. 2, 2008
Duke Law School Legal Studies Paper No. 190

Abstract:     
The subprime mortgage crisis is undermining financial market stability and has the potential to cause a true systemic breakdown. This short and accessible essay, which is based on the author's 2008 Roy R. Ray Lecture at SMU Law School, uses this crisis to demonstrate that existing protections against systemic risk, which focus on banks and largely ignore financial markets, are misguided. Because companies increasingly access financial markets without going through banks, an effective framework for containing systemic risk must focus on markets.

Number of Pages in PDF File: 9

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Date posted: March 6, 2008 ; Last revised: August 20, 2010

Suggested Citation

Schwarcz, Steven L., Markets, Systemic Risk, and the Subprime Mortgage Crisis. Southern Methodist University Law Review, Vol. 61, No. 2, 2008; Duke Law School Legal Studies Paper No. 190. Available at SSRN: http://ssrn.com/abstract=1102326

Contact Information

Steven L. Schwarcz (Contact Author)
Duke University - School of Law ( email )
Box 90360
Duke School of Law
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)
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