: The creation and misuse of complex products like mortgage-backed securities (MBS) and collateralized debt obligations (CDOs) , which masked true risks.
Morris argues that the meltdown was not a sudden accident but the result of a quarter-century of "free-market zealotry," reckless lending, and extreme leverage. He traces the roots back to the late 1970s and 1980s, noting how deregulation and the search for excessive profit eventually led Wall Street into gross excess. Key Drivers of the Meltdown
The book highlights several critical factors that destabilized the global economy:
: The creation and misuse of complex products like mortgage-backed securities (MBS) and collateralized debt obligations (CDOs) , which masked true risks.
Morris argues that the meltdown was not a sudden accident but the result of a quarter-century of "free-market zealotry," reckless lending, and extreme leverage. He traces the roots back to the late 1970s and 1980s, noting how deregulation and the search for excessive profit eventually led Wall Street into gross excess. Key Drivers of the Meltdown
The book highlights several critical factors that destabilized the global economy:
