FNCE 720: The Mortgage Crisis has been added to the Winter 2009 schedule. This one-unit course will be taught by Robert Hendershott and will be held from 6:30 p.m. - 9:00 p.m. on the following Fridays: January 23, January 30, and February 6. Interested students may register for FNCE 720 via eCampus.
Course Description
This course will discuss the causes and consequences of the US mortgage crisis in three class sessions. The first class will cover the events leading up to the crisis (1992-2006), including the residential real estate boom and asset-backed securitization. The second class will cover the crisis including a series of RIP case studies: What killed Bear Stearns? What killed Fannie Mae and Freddie Mac? What killed AIG? What killed Lehman Brothers and Merrill Lynch? What killed Washington Mutual and Wachovia? The third class will focus on how the crisis can be expected to change the global financial services industry in the future, and will involve student groups presenting their research on the possible futures of particular industries: banking (commercial and investment), insurance (underwriting and reinsurance), and investment services (asset management including alternatives). These presentations, along with accompanying written reports, will determine the majority of student grades.
Prerequisites: FNCE 455.
Tentative Readings:
A Primer on Securitization, edited by Leon Kendall and Michael Fishman (MIT Press)
The Subprime Panic, working paper by Gary Gorton
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