Essay on financial crisis

The financial crisis of 2008 spurred the great recession. While many investors and advisors know of the event, many less understand why it occurred. In fact we are still dealing with its implications today.

We will embark on an investigation, analysis and discussion of various aspects of the events that led up the global crisis and the reaction to it that directly connects to many concepts you are learning (monetary policy, fixed income securities, etc.. The intent of this case study is to help you become curious and somewhat sceptical. I have offered many resources. You are not expected to review every resource. The links below are to assist you in your analysis and save you time.

There are three (3) components of this case study

Analysis – read, review and research

Discussion Post – answer the two questions below

The two questions to answer are:

1. Are banks ( investment and chartered in the US, secondarily in Canada) too big to fail in 2021? Is “open” banking a remedy?

2. When you analyze the different timelines from Before 2008 to today in 2021, what are the three questions you believe need to be answered by regulators that have not? Please provide some context

Consider a Timeline:

A) BEFORE:

https://www.youtube.com/watch?v=QozGSS7QY_U (long documentary)

https://www.businessinsider.com/what-caused-the-great-recession

B) At the TIME:

https://corporatefinanceinstitute.com/resources/knowledge/finance/2008-2009-global-financial-crisis/ ( scroll down)

https://lauder.wharton.upenn.edu/wp-content/uploads/2015/06/Chronology_Economic_Financial_Crisis.pdf (very detailed)

For fun: https://www.youtube.com/watch?v=aRVRTTMwhK8 sock puppet bailout

C) FIVE years LATER 2013:

https://hbr.org/2013/11/what-weve-learned-from-the-financial-crisis

https://www.benefitscanada.com/news/bencan/the-financial-crisis-timeline/

D) TEN years later

https://hbr.org/2018/09/the-social-and-political-costs-of-the-financial-crisis-10-years-later?ab=at_art_art_1x1

https://www.newyorker.com/magazine/2018/09/17/the-real-cost-of-the-2008-financial-crisis#:~:text=The%20aftermath%20of%20the%202008,way%20to%203.9%20per%20cent.

d) Consequences TODAY:

https://hbr.org/2018/09/research-how-the-financial-crisis-drastically-increased-wealth-inequality-in-the-u-s?ab=at_art_art_1x1

https://www.washingtonpost.com/business/economy/a-guide-to-the-financial-crisis–10-years-later/2018/09/10/114b76ba-af10-11e8-a20b-5f4f84429666_story.html

https://www.pwc.com/ca/en/industries/banking-capital-markets/canadian-banks-2019/what-open-banking-means-for-canada-financial-landscape.html

https://financialpost.com/fp-finance/fp-explains-what-is-open-banking-and-why-hasnt-it-come-to-canada-yet

https://sencanada.ca/en/info-page/parl-42-1/banc-open-banking/

http://www.bankofcanada.ca/2014/11/legacy-financial-crisis/

http://www.theglobeandmail.com/report-on-business/the-financial-crisis-through-their-eyes/article14257785/

https://www.stratfor.com/weekly/international-banking-system-faces-existential-threat

those two answers are to be answered.