Natacha Postel-Vinay finds a strong link between mortgage lending and bank failure in the 1930s.
The recent financial crisis suggested an important connection between real estate investments and bank trouble, especially in the U.S. In fact, this is nothing new. Although financial crises can have multiple and varied causes, real estate investment booms are likely to bode particularly ill for […]
Streetcars and light rail services serve different rider markets in American cities.
Eric Shinseki’s failure at the Department of Veterans Affairs shows the difficulty in evaluating transformational public sector executives.
Civil rights suits against the police are an essential tool for enforcing the Constitution. But cops rarely pay and settlements don’t lead to change.
Obama’s inaction in Syria is nothing new – the US has been selective in its Middle Eastern interventions for a century.
Ayşe Işın Kirenci reviews The New Age of Empire: How Colonialism and Racism Still Rule the World by Kehinde Andrews
Matt Bluemink reviews What Do We Know and What Should We Do About Fake News? by Nick Anstead
Kyle Scott reviews Meddling in the Ballot Box: The Causes and Effects of Partisan Electoral Interventions by Dov H. Levin 
0 | Unique Visitors |
Gallery
The experience of the U.S. Great Depression suggests parallels between 1920s mortgage lending and the recent financial crisis
The experience of the U.S. Great Depression suggests parallels between 1920s mortgage lending and the recent financial crisis
Bank lending was at the heart of the Global Financial Crisis when it began in 2008, with the collapse of subprime and ‘piggyback’ loans having detrimental effects. Using newly-discovered archival documents and a newly-compiled dataset from 1934, Natacha Postel-Vinay looks at the lessons of the Great Depression. She writes that the prevalence of ‘second mortgages’ (loans which supplemented regular mortgages […]