미국발 금융위기의 주범은 정부규제인가?

다국어 초록 (Multilingual Abstract)

The purpose of this paper is to assess the validity of the views that blame the government regulation for the US financial crisis. Their starting point is that the political response to rising income inequality through the expansion of lending to households was the deep roots of the crisis. They contends that the Community Reinvestment Act pushed banking institutions to undertake high-risk mortgage lending and the Government Sponsored Enterprises stirred up the securitization via increasing the subprime MBS investments. However, this paper finds out that factual and theoretical grounds of the views to blame the government regulation are very weak. The real causes of the crisis has been related with the relentless pursuit for profit and the failure to regulate the banking industry and the skewed political processes that favor the very rich and the financial sectors.

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