Wall Street Reform: Background

Use this guide to explore the financial crisis and the new legislation drafted to protect Main Street from Wall Street.

About this Guide

The Financial Crisis is a complicated topic presenting many issues that affect the U.S. and global economies.  This guide will hopefully help you to understand the cause, impact and future of how Wall Street does business and to provide resources explore this topic further.  Explore the topic, respond to the polls, and feel free to contact me with any questions you might have.  Your feedback is greatly appreciated!

Regular Americans

 

Subprime mortgages crippled lending.  Do you know someone who had to foreclose on their home? 

Regular Americans
Yes: 0 votes (0%)
No: 0 votes (0%)
Total Votes: 0

Foreclosure Map

The following is a link to the Federal Reserve board showing a map of mortgage delinquencies in the U.S.  The board uses this statistical data to develop regulatory reform.

Greed Killed the Bull

The financial crisis that brought the U.S. economy to its knees has roots that go back far before the peak of the crisis in 2009.  The Center for Financial Stabilty is a non partisan group that documented the crisis beginning in February 2007.  Events across financial markets, the private sector and government regulation and responses combined to culminate in a disastrous effect in the economy.  Explore the following links to draw your own conclusions on the failure of our system.

Crisis Timeline & Visualization of the debacle and the parts all the actors played:

Who takes "credit" for the crisis?

In the early years of the 2000 decade, Americans had unequaled access to credit so mortgages, auto loans, and credit cards flourished.  Americans were maxed-out.  Banks around the world were maxed out on mortgage backed securites. The sub-prime mortgages and adjustable rate mortgages (ARMs) that Americans believed they would be able to lock into low interest rates triggered the collapse of the banking system.  This is a complicated orchestration between consumers, brokers, mortgage companies, Wall Street and banks around the worlds.  The following YouTube video illustrates how the housing market was a bubble waiting to pop!

Subject Guide

Jennifer Sipple

Featured Title

A compelling account of the history behind the scandal from a Wall Street reporter.  Reviews say it reads like a true crime non fiction story that is oh so real.

Global Impact

The financial crisis in the U.S. rocked the global financial stage.  The International Monetary Fund is an organization of over 150 countries that works to foster global financial cooperation, stability and economic growth.  Check it out to see how other countries have been impacted.