The Leverage Cycle and the Subprime Mortgage Crisis - Financial Theory - John Geanakoplos - Lecture 25 of 26 - Video-lecture

Video-lecture, Financial Theory

Description: Standard financial theory left us woefully unprepared for the financial crisis of 2007-09. Something is missing in the theory. In the majority of loans the borrower must agree on an interest rate and also on how much collateral he will put up to guarantee repayment.
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