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Abstract ▼ AI-Helper

The financial crisis in the U.S, beginning from subprime mortgage crisis, is giving an exorbitant damage to the whole world economy. Unexpectedly the Korean economy is too much fragile to the impact of the 2008 financial crisis in the U.S. This paper aims to provide an overview of veiled trend behin...

The financial crisis in the U.S, beginning from subprime mortgage crisis, is giving an exorbitant damage to the whole world economy. Unexpectedly the Korean economy is too much fragile to the impact of the 2008 financial crisis in the U.S. This paper aims to provide an overview of veiled trend behind this crisis: the financialization of economy and the securitization of finance. In this crisis, particularly a series of the securitization process is crucially important. Next, this study tries to give a clear image of the transmission channels of the crisis, by analysing the successive securitization processes. RMBS and CDOs are the key representative securities created by the securitization process. To conclude, the author pays much attention to triggers of the recent financial crisis that have allowed CEOs of major investment banks to pursue a risky a portfolio policy: Firstly, the deregulation policy of the federal financial supervisory authorities’ toward the financial derivatives Secondly, major flaws in the corporate governance in the U.S.

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