Description
The purpose of this paper is to examine the events leading up to the Great Recession, the US
Federal Reserve’s response to what it perceived to be a short-term liquidity problem, and the programs
it put in place to address liquidity needs from 2007 through the third quarter of 2008...
Description
The purpose of this paper is to examine whether the underserved area requirements for
Fannie Mae and Freddie Mac (the government-sponsored enterprises [GSEs]) and the community needs
requirements of the Community Reinvestment Act (CRA) contributed to the house price run-up in the
USA...