Although the subprime mortgage market problem began in the United States, the first indication of the seriousness of the crisis began in A. Europe. B. Australia. C. Asia. D. South America.

In the aftermath of the financial crisis of 2008, several banking practices came into sharp focus for contributing to the crisis. One of those practices was the issuance of “subprime” mortgages - mortgages made to borrowers who were unlikely to be able to repay in the case of a recession or a decline in housing values. Banks defended their choice by arguing that if the mortgage holders defaulted on the payments, the banks themselves would be the ones taking a loss in profits. In the end, however, the default rate on these loans was so high that the country’s entire financial system was at risk of collapse, and taxpayer dollars were used to keep banks solvent. This information indicates that subprime mortgages are _________.Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.apublic goodsbcommon resourcescgoods with additional social costsdgoods with additional social benefits

he international financial crisis of 2007 was the result ofA) runaway inflation in the U.S.B) defaults on U.S. mortgage-backed securities.C) a deep global recession.D) the collapse of global currency markets.E) failure of the Euro currency.

Which of the following was an external precursor(s) to the Asian financial crisis?Group of answer choicesincrease in the US interest rateAll of the answers were external precursorsAsian banks had large offshore borrowingslarge capital inflows into Asia

What are the causes of a financial crisis?

What are the causes of financial crisis?