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Capital Markets, Derivatives and the LawEvolution After Crisis$
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Alan N. Rechtschaffen

Print publication date: 2014

Print ISBN-13: 9780199971541

Published to Oxford Scholarship Online: May 2014

DOI: 10.1093/acprof:oso/9780199971541.001.0001

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The Financial Crisis

The Financial Crisis

Sowing the Seeds of New Regulation

(p.1) Chapter 1 The Financial Crisis
Capital Markets, Derivatives and the Law

Alan N. Rechtschaffen

Oxford University Press

This chapter examines the origins of the financial crisis and its impact on the regulatory environment. It explains how failures in individual markets and institutions rapidly devolved into global financial recession, how financial markets and regulators responded to the crisis, and the effects of the crisis on financial institutions and financial instruments. It discusses the role of U.S. real estate markets in precipitating the crisis, the effects of mortgage lending on the broader capital markets and U.S. economy, the use of government-sponsored entities to refinance mortgages, and the initial reaction of the Federal Reserve to the liquidity crisis. It looks at the passage of several legislative acts to address the financial crisis, including the Emergency Economic Stabilization Act, American Recovery and Reinvestment Act, and Dodd-Frank Act. Finally, the chapter provides an overview of the European debt crisis and political conflicts that have accompanied efforts to address the U.S. public debt.

Keywords:   financial crisis, financial markets, financial institutions, financial instruments, government-sponsored entities, Federal Reserve, Dodd-Frank Act, public debt

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