The Credit Crisis: What Went Wrong? Research Paper by Nicky

An examination of the origins and consequences of the current credit crisis.
# 150265 | 4,768 words | 19 sources | APA | 2012 | US
Published on Jan 30, 2012 in Business (Finance, Investment and Banking) , Economics (General)


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Description:

The paper develops a working definition of a credit crisis and provides an overview of previous global credit crises and concomitant depressions, as well as an analysis of how the current credit crisis began in 2007 and what key factors precipitated it. The paper includes an assessment of the impact of the current credit crisis on the United States, Europe and the Russian Federation. A table is included in the paper.

Outline:
Introduction
Review and Discussion
Conclusion

From the Paper:

"In order to discussion the current credit crisis meaningfully, an operationalization of the term is in order. According to Black's Law Dictionary (1991), credit is "the ability of a business or person to borrow money, or obtain goods on time, in consequence of the favorable opinion held by the particular lender as to solvency and past history of reliability" (p. 367). Therefore, a so-called "credit crisis" (alternatively referred to as a "credit crunch" or "credit squeeze") occurs in those situations where there has been a significant reduction in the availability of loans; for the majority of consumers, a credit crisis is represented primarily by an increase in the requirements required to obtain a secured loan from the bank, increasing interest rates or a fundamental lack of funds that are availability for unsecured loans, such as credit cards and personal loans (Thomas, 2009). Given the importance of credit to an enormous range of organizations and consumers, it is little wonder that its effects have been felt around the world. According to Sinai (2008), "The current credit crisis encompasses a wide range of bank and nonbank financial intermediaries, all of which provide credit and invest in the U.S. and global economies" (p. 25)."

Sample of Sources Used:

  • Black's law dictionary. (1991). St. Paul, MN: West Publishing Co.
  • Connolly, B. (2008, Winter). Defining the financial safety net: Two dozen experts weigh in. The International Economy, 22(1), 24-25.
  • Dattel, E. (2008, Winter). Defining the financial safety net: Two dozen experts weigh in. The International Economy, 22(1), 24-25.
  • Dmitry Medvedev. (2008, March 5). The Birmingham Post, 23.
  • Green, C. M. (1939). Holyoke, Massachusetts: A case history of the Industrial Revolution in America. New Haven, CT: Yale University Press.

Cite this Research Paper:

APA Format

The Credit Crisis: What Went Wrong? (2012, January 30) Retrieved April 21, 2024, from https://www.academon.com/research-paper/the-credit-crisis-what-went-wrong-150265/

MLA Format

"The Credit Crisis: What Went Wrong?" 30 January 2012. Web. 21 April. 2024. <https://www.academon.com/research-paper/the-credit-crisis-what-went-wrong-150265/>

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