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Financial Intermediation And The 2007-2009 Financial Crisis (Essay Sample)


Read No more than 5 academic papers (peer-reviewed papers, working papers, policy papers)
Write at least 5 pages (font size 12, 1.5 spacing), reference, graphs, and tables should come after 5 pages.
The paper should be properly cited.
1. google scholar, academic search premier, and econlit
2. a. How was the financial intermediation before? How the relaxation of regulation or deregulation led to the financial intermediation during the financial crisis? (Chapter 11)
- regulation changes that led to the change in financial intermediation (repetition of Glass-Stegall Act)
- Emergence new financial intermdediaries
- How it created risky system
b. What caused the crisis? How the crisis unfolded.
- What led to the mortgage market crisis resulting in a financial crisis
c. Once the crisis sets in, how it affected each channel of the financial system.
- How the crisis affected all kinds of financial intermediaries
d. the extent of the crisis and its effect on the economy
(2.5 pages on the part a and b, 2.5 pages on the part c and d )


Financial Intermediation and the 2007-2009 Financial Crisis




2. How was the financial intermediation before?

Repeal of Glass - Steagall

The 1999 repeal of the Glass- Steagall Act allowed the investment banks to engage in speculation with the depositor's funds, which had been held in the associated commercial banks. The Act separated the commercial and investment banks, and opponents of the Glass- Steagall provisions argued that some of them were absolute. The Gramm-Leach-Bliley Act (GLBA) (Financial Services Modernization Act) replaced the Glass- Steagall Act of 1933, which had prevented products or business lines or products that were marketed by other financial institutions. There was also increased deregulation that allowed investment banks leverage like the universal banks on a similar footing. The changes in the financial system were less protected than 1930

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