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@article{5268, author = {Bock, Michal and Tichý, Jaromír}, article_number = {1}, keywords = {structured product; role; interconnectedness of capital markets; CDO; VAR}, language = {eng}, issn = {1804-7890}, journal = {AD ALTA: Journal of Interdisciplinary Research}, note = {Projekt - SVV NO 7427. AR 2016/2017 - odesláno do RIV. (duben 2017)}, title = {FAILURE OF THE CONTROL MECHANISMS IN US BANKS DURING THE CRISIS AND SPREAD OF THE FINANCIAL CRISIS INTO THE WORLD THROUGH STRUCTURED PRODUCTS}, url = {http://www.magnanimitas.cz/aktualni-cislo}, volume = {6}, year = {2016} }
TY - JOUR ID - 5268 AU - Bock, Michal - Tichý, Jaromír PY - 2016 TI - FAILURE OF THE CONTROL MECHANISMS IN US BANKS DURING THE CRISIS AND SPREAD OF THE FINANCIAL CRISIS INTO THE WORLD THROUGH STRUCTURED PRODUCTS JF - AD ALTA: Journal of Interdisciplinary Research VL - 6 IS - 1 SP - 79-81 EP - 79-81 SN - 18047890 N1 - Projekt - SVV NO 7427. AR 2016/2017 - odesláno do RIV. (duben 2017) KW - structured product KW - role KW - interconnectedness of capital markets KW - CDO KW - VAR UR - http://www.magnanimitas.cz/aktualni-cislo N2 - The aim of this paper is to explain the role of structured products, particularly CDOs (Collateralized Debt Obligation) and its modifications to the rise of the international financial crisis since 2008. In that year, a large investment group Lehman Brothers went bankrupt, which rocked the global capital markets, and subsequently a negative sentiment about the quality of loan portfolios was extended, especially of mortgage banks in the US, which by means called moral hazard, increased the value of mortgage loans. The capital guarantee of the largest mortgage banks and insufficient control of federal authorities resulted in the uncontrolled growth of unsecured mortgages and growth of CDO emissions that were linked to these loans. Granted state aid supplies needed liquidity to the banks through emergency programs. ER -
BOCK, Michal a Jaromír TICHÝ. FAILURE OF THE CONTROL MECHANISMS IN US BANKS DURING THE CRISIS AND SPREAD OF THE FINANCIAL CRISIS INTO THE WORLD THROUGH STRUCTURED PRODUCTS. \textit{AD ALTA: Journal of Interdisciplinary Research}. 2016, roč.~6, č.~1, s.~79-81. ISSN~1804-7890.
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