Notes on the Financial Crisis and Bailout of 2008

29 Pages Posted: 24 Oct 2008 Last revised: 6 Oct 2009

See all articles by Roger D. Congleton

Roger D. Congleton

West Virginia University - Department of Economics; George Mason University - Center for Study of Public Choice

Date Written: February 18, 2009

Abstract

This paper provides an overview of the financial crisis of 2008 and the public policies adopted to address the crisis within the United States.The first half of the paper suggests that the crisis was not a complete surprise, but reflects mistakes in regulations and other policies in the past decade or so, especially with respect to housing and financial markets. The second half of the paper analyzes the effects and efficacy of the polices adopted in the last few months to address the financial crisis.

Although the paper is still in "note form" it provides a useful overview of the problems and efforts to ameliorate the problem that are not otherwise available to the best of my knowledge.

An executive summary appears at the end of the notes.

Keywords: fiscal crisis, bailout, public choice, public policy, housing finance, mortgage backed securities

JEL Classification: D70, D70, B25

Suggested Citation

Congleton, Roger D., Notes on the Financial Crisis and Bailout of 2008 (February 18, 2009). Available at SSRN: https://ssrn.com/abstract=1288586 or http://dx.doi.org/10.2139/ssrn.1288586

Roger D. Congleton (Contact Author)

West Virginia University - Department of Economics ( email )

PO Box 6025
Morgantown, WV 26506
United States

HOME PAGE: http://rdc1.net

George Mason University - Center for Study of Public Choice ( email )

4400 University Drive
Fairfax, VA 22030
United States

HOME PAGE: http://rdc1.net

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